Saxby Chambliss: “There should not be a price-fixing cap by the Federal Government on any product in this country. My friend from Texas…”

“There should not be a price-fixing cap by the Federal Government on any product in this country. My friend from Texas made a classic point. I think he struck at the heart of this amendment. We have the highest prices for corn and wheat in this country today that we have ever seen in the history of anybody that sits in this House. Yet this week the manufacturers of cereal, the manufacturers who process corn and wheat, have reduced their prices at the retail level. That shows us that a reduction in price is not going to translate into a reduction at the retail level. An increase in the price in that instance translated into a reduction at the retail level. I again say this amendment is deplorable, it is un-American, it is price fixing, and it ought to be defeated.”