Advisory: White House Panel on the Economic Case for the President's Initiative on Junk Fees
Today at 1:00 PM EDT, the White House will host a bipartisan discussion on the Economic Case for the President's Initiative on Junk Fees. The Biden-Harris Administration is undertaking a government-wide effort to give families more breathing room by addressing these fees. Today, a bipartisan panel of academics and practitioners will discuss the economic benefits of regulating junk fees and the body of academic literature that underpins the Administration's policy proposals.
Lael Brainard, Assistant to the President and National Economic Council Director, will deliver opening remarks, followed by remarks from the slate of panelists: David Laibson, Professor of Economics at Harvard; Vicki Morwitz, Professor at Columbia Business School; William Kovacic, Director of the Competition Law Center at George Washington Law School and former Chair of the Federal Trade Commission under President George W. Bush; and Laura Dooley, Head of Government Relations at StubHub. Panelists will speak to the prevalence of these fees in American's everyday lives and the academic research that underpins the Administration's evidence-based policymaking.
Agency economists and policy staff have been invited to attend in person, and the Council of Economic Advisers will publish a blog post examining a few specific instances of junk fees and how they illustrate hidden pricing practices.
Watch the opening remarks here.
Joseph R. Biden, Advisory: White House Panel on the Economic Case for the President's Initiative on Junk Fees Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/360144