In the Imperial City, two liberal Senators are proposing to bring back price controls for the airlines – a stupid, stupid, stupid, stupid, stupid, stupid idea. Excerpt:
If you care about keeping airline prices low, buckle up. Legislation introduced in the U.S. Senate would impose strict government price controls on airlines, disrupting the industry and endangering billions of dollars in consumer welfare.
The U.S. Senate’s version of the bill to reauthorize the Federal Aviation Administration (FAA) contains a provision by Sens. Ed Markey (D-MA) and Richard Blumenthal (D-CT) called the FAIR Fees Act. It establishes“standards for assessing whether baggage, seat selection, same day change, and other fees are reasonable and proportional to the costs of the services provided.”
OH no, Markey and Blumenthal! Utter failure is so to ensue. Go read it all folks, and get ready for another example of too much government hurting consumers. But, as Animal points out, there is good news
Now, honestly: This bill is going nowhere. In the current Republican-led Senate, it will never see a floor vote. If by some fluke the Democrats do take control of Congress, passage is still not likely, and certainly not by enough of a margin to overcome a Trump veto. This is pure and simple election-year grandstanding by a couple of Congressional economic illiterates. (But I repeat myself.)
But it would be nice, just for once, to see a little common sense in the halls of Congress. Just once. That’s all I ask.