The House of Representatives passed the Consumer Fuel Price Gouging Prevention Act by a vote of 217–207 on May 19, moving the country closer to greater government involvement in energy markets as gasoline prices soar to new heights.
The legislation, H.R. 7688, would allow President Joe Biden to declare an “energy emergency.”
The legislation, H.R. 7688, would allow President Joe Biden to declare an “energy emergency.”
Such an emergency would empower the Federal Trade Commission (FTC) to target people who sell fuel at a price that’s judged to be “unconscionably excessive” or that “indicates the seller is exploiting the circumstances related to an energy emergency to increase prices unreasonably.”
That presidential emergency proclamation would last 30 days, but could be renewed indefinitely “as the president deems appropriate.”…
That presidential emergency proclamation would last 30 days, but could be renewed indefinitely “as the president deems appropriate.”…
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