The Price Gouging Prevention Act of 2024
We need to build an economy that works for families instead of enabling corporate greed. The New York Times recently reported that the Federal Trade Commission (FTC) found that large national grocery chains took advantage of pandemic supply chain disruptions to hike prices for consumers and increase profits for shareholders and billionaire CEOs.
This practice of price gouging is unacceptable, and it is especially unconscionable during times of crisis.
That's why I joined Senate colleagues to reintroduce the Price Gouging Prevention Act of 2024 to combat price gouging. The bill would empower the FTC and state attorneys general to enforce a federal ban against outrageous price increases, cracking down on companies that jack up prices and exploit Americans' pocketbooks during major shocks to the market.
Americans are sick and tired of being taken advantage of. Whether it's outrageous prices for prescription medications, the high cost of gas, or the rising costs of everyday necessities, big corporations are raking in profits while families are struggling.
In the Senate, we work for the American people, not for Big Pharma, Big Oil, or Big Money.
These price-gouging profiteers can't be allowed to manipulate a deadly pandemic, a war, or any other abnormal market disruptor as just one more opportunity to rip off Americans—we have to put the interests of the American people above the interests of lining executives' pockets and stockholder portfolios.
It's time to end the practice of price gouging once and for all.
Onward!
Jeff
