AS WESTERN NY SEES RECORD HIGH GROCERY COSTS, SCHUMER ANNOUNCES LANDMARK LEGISLATION TO BREAK UP THE MEATPACKING MONOPOLIES, HELP FARMERS, AND DRIVE DOWN COST OF MEAT FOR FAMILIES

 

Schumer Says Four Corporate Giants Dominate Meat Market, Squeezing Farmers And Ranchers Who Keep Just 16 Cents Of Every Dollar Spent On Food, And Rigging The System Against WNY Families

New Schumer Bill Will Break Up Big Monopolies In Meat Packing That Lead To Higher Prices And Restore Real Competition To Lowering Costs

Schumer: New Bill Will Bring Down Costs For Families At The Grocery Store

As Western New Yorkers face some of the fastest price growth for groceries in the country, U.S. Senator Chuck Schumer today stood with Western New York farmers and families at the beloved Niagara Sausage Company to introduce the Family Grocery and Farmer Relief Act. The Senator’s new landmark legislation would break up the big meat monopolies, boost farmers Upstate, and lower grocery costs for families.

“The meatpacking monopoly is driving up costs for Western New Yorkers at the grocery store and rigging the game against local farmers. Corporate giants dominate the meat market and set prices sky-high for families, all while squeezing profits from farmers by eliminating competition, and it needs to end,” said Senator Schumer. “That’s why I’m introducing legislation – the Family Grocery and Farmer Relief Act – to break up the monopoly and lower costs. This bill is centered around making groceries more affordable, making farmers more profitable, and putting the needs of working middle-class people ahead of the interests of powerful corporations. Local businesses like Niagara Sausage Company are the backbone of communities; they love their customers and want prices to be affordable, and they get hurt by big corporations and suppliers rigging the game against consumers. America’s economy and our Main Streets are stronger when costs are lower and we have true competition, and this bill will do exactly that.”

Recent reporting shows that families in the Buffalo area are spending some of the most on groceries in the country. Families in Buffalo spend the eighth largest percentage of their income on groceries in an analysis of 100 of the largest American cities. According to analysis from the Urban Institute, New York’s 26th Congressional District, which covers parts of Erie and Niagara Counties, has experienced some of the fastest price growth for groceries in the country in the past ten years. Grocery prices have increased from $758.95 to $1,149.02 each month, a whopping more than 50% increase.

Schumer explained that a major driver of high meat prices is a food system rigged in favor of corporate monopolies. Four companies, Tyson Foods, JBS, Cargill, and National Beef, control 85% of the beef market, 67% of the pork market, and 60% of the chicken market.

Schumer’s Family Grocery and Farmer Relief Act is a competition-driven, pro-farmer, pro-rancher, pro-worker, pro-consumer, cost-of-living bill that breaks up dominant meatpackers and uses all available tools to stop unfair pricing that drives up grocery bills for American families. The bill would force the biggest meatpackers to choose a line of business instead of dominating beef, pork, and chicken all at once, and aims to provide financial and technical assistance to farmers’ cooperatives and small businesses that seek to acquire, operate, or expand meatpacking plants or facilities, helping make more local supply chains to lower costs. In addition, to directing the FTC to go after foreign-controlled conglomerates that squeeze American producers and distort U.S. markets.