Correa Votes to Pass The Consumer Fuel Price Gouging Prevention Act
Bringing Americans Much Needed Relief
Washington, D.C. — Today Congressman Lou Correa (D-CA) a cosponsor of the Consumer Fuel Price Gouging Prevention Act, issued a statement after voting for the passage of this legislation:
“Families are having trouble making ends meet due to recordgasoline prices of over $5 and $6 per gallon in California. My hardworking constituents are feeling this increase in their pocketbooks and having to cutback on other necessities including groceries. We must deliver relief to our communities. That's why I cosponsored and voted for this important piece of legislation to ensure that oil and gas companies would no longer take advantage of their customers by excessively raising gas prices. I will keep working with my colleagues to ensure we keep passing legislation that helps protect American consumers.”
Background: The Consumer Fuel Gouging Prevent Act will also:
- Grant the president the authority to proclaim a state of an energy emergency.
- Prohibits the sale of consumer fuels (vehicle fuel, aviation fuel, home heating oil, and liquid propane) at high or exploitative prices during an energy emergency.
- Protects privately operated gas stations from being blamed for wholesale price gouging or increasing costs throughout the supply chain.
- Protects privately held gas stations when wholesale prices are high or supply chain costs rise.
- Grants the FTC the authority to assess penalties for price gouging. -Gives enforcement action priority to significant corporations with annual sales exceeding $500 million.
- Grants all states the authority to pursue retail price gougers.
- Redirects penalties collected to a Consumer Relief Trust Fund, which may be used for Low-Income Housing.
Congressman Correa is also a cosponsor of the Gas Prices Relief Act, legislation that would get rid of the federal gas tax until January 1, 2023.
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