Democrats are pushing a bill prohibiting price gouging at the federal level and giving the Federal Trade Commission another $1 billion and new tools to go after companies charging “grossly excessive” prices.
Democrats say such protections are needed as President Donald Trump rolls out higher tariffs on foreign nations as part of an effort to overhaul global trade. A tariff is a tax on imported goods that the importer pays to the federal government. That importer can then absorb the loss, or try to pass the added costs on to consumers through higher prices.
Critics say the measure could actually make shortages of key products worse.
A group of Democrats reintroduced the Price Gouging Prevention Act “to fight back against the corporate greed enabled by the Trump administration’s chaotic tariff policies,” they said. The bill would give the FTC and state attorneys general new tools to enforce a federal ban against “grossly excessive price increases.”
“Donald Trump’s reckless tariff policies are giving companies cover to squeeze families and raise prices more than necessary,” said U.S. Sen. Elizabeth Warren, D-Mass. “My bill is an opportunity for Congress to stand up for families by cracking down on price gouging and fighting back against corporate abuse.”
Ryan Bourne, of the Cato Institute, said the measure was just as bad as it was the first time it was introduced.
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Author: Ray Hilbrich
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