Federal Price Gouging Prevention Act

Floor Speech

FEDERAL PRICE GOUGING PREVENTION ACT -- (House of Representatives - May 23, 2007)

BREAK IN TRANSCRIPT

Mr. COURTNEY. Mr. Speaker, I strongly support passage of the Price Gouging Prevention Act, and I commend Congressman Stupak for his leadership on this issue.

In eastern Connecticut, where I come from, the price of gas has reached its highest level in history, $3.26 today, up 31 cents from a month ago, and more than $1 since February.

The Government Accountability Office reported on Tuesday that the increasing gasoline prices have cost consumers an extra $20 billion this year, and we are only in May. That is a tax on consumers. It is a tax on small businesses. It has a ripple effect all throughout our economy.

And this is not just about driving over Memorial Day weekend. This is about whether or not energy prices are going to cripple the ability of this economy to grow and thrive and prosper.

It is time to put accountability into the system. The Stupak bill is not price controls, it is a system to make sure that the price is a fair one and is justifiable according to market conditions. Those are the tools that we are giving to the Federal Trade Commission.

BREAK IN TRANSCRIPT

Source