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The Street
The Street
Michael Tedder

Biden Wants to Take On Ticketmaster, Stop Junk Fees

There was a time when the President’s State of the Union speech was a staid, borderline solemn event, with the office holder touring their achievements to a room full of more or less respectful nods.

Well, things have changed. 

The main takeaways from President Joe Biden’s State of the Union speech was the heckling he received from the likes of Representatives Marjorie Taylor Greene of Georgia and Beth Van Duyne of Texas, who particularly objected to his charges that Republicans want to cut Social Security and Medicare. 

But Biden seemingly gave as good as he got, replying to the jeers at one point by saying: "Social Security and its bookend, Medicare, are off the books now, right?," and "We have unanimity!"

Biden Stays On Message, Zeroes In On 'Junk Fees”

But in-between the back and forth with the opposing party, Biden also touted his administration's accomplishments, while also laying out his agenda for the rest of his term (and very likely, his pitch for his seemingly inevitable second Presidential campaign).

Biden recently introduced the Junk Fee Prevention Act, which is part of his administration's ongoing effort to combat perceived monopolies like Ticketmaster, (which is controversially owned by Live Nation (LYV)) and to create more competition in the marketplace. 

During his speech he reiterated his goals for the legislation, which will cap or eliminate excessive charges such as resort fees for hotel rooms, service charges for Ticketmaster or fees that Comcast (CCZ) and other carriers charge to change your cable company. Part of the goal is to require Ticketmaster and hotel chains to list all fees upfront so the customer knows the real cost of their purchase.

“The idea that cable internet and cellphone companies can charge you $200 or more if you decide to switch to another provider — give me a break,” Biden said. “We can stop service fees on tickets to concerts and sporting events and make companies disclose all fees upfront.”

Biden has been on the warpath against excessive fees lately, and has been working with the Consumer Financial Protection Bureau, which the White House defines as those that are “designed either to confuse or deceive consumers or to take advantage of lock-in or other forms of situational market power.”

Though it's unclear if his anti-junk fee legislation will pass the Republican-controlled House, Biden seemingly thinks attacking the unpopular charges is a political winner.

 “Junk fees may not matter to the very wealthy, but they matter to most folks in homes like the one I grew up in. They add up to hundreds of dollars a month,” Biden said during his speech. “They make it harder for you to pay the bills or afford that family trip.”

Michael M. Santiago/Getty Images

In addition to calling our cable companies and resort fees, Biden also took aim at another common but disliked fee: the extra charge some airlines impose for parents that want to make sure they sit with their children. 

“Americans are tired of being played for suckers,” he said. “Baggage fees are bad enough—airlines can’t treat your child like a piece of baggage.”

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