Reps. Schrier, Porter Introduce Legislation to Stop Price Gouging at the Gas Pump
WASHINGTON, DC – Today U.S. Representatives Kim Schrier, M.D. (WA-08) and Katie Porter (CA-45) introduced a bill, the Consumer Fuel Price Gouging Prevention Act, that will stop price gouging at the gas pump. Earlier this year Rep. Schrier introduced a bill that would implement a temporary federal gas tax holiday through the end of the year.
“At a time when people in the 8th district and across the country are feeling the pinch at the gas pump, Congress needs to be doing all it can to bring down costs for American families. What’s infuriating is that this is happening at the same time that gas and oil companies are making record profits and taking advantage of international crises to make a profit. This must stop,” said Rep. Schrier. “Gas and oil companies should be held accountable and should not be making the situation worse by gouging Americans at the pump. This bill needs to be passed and signed into law as soon as possible.”
"Oil companies are not struggling—they continue to announce record profits and tens of billions dollars’ worth of stock buybacks—but families are," said Rep. Porter, Chair of the House Natural Resources Subcommittee on Oversight. "Big Oil is price gouging families because they can. Enough is enough. I'm proud to help introduce this bill that will hold these corporations accountable, stop their abuse, and give families relief.”
The Consumer Fuel Price Gouging Prevention Act would give the President the power to issue an Energy Emergency Declaration that would make it unlawful to increase gasoline and home energy fuel prices in an excessive or exploitative manner.
Rep. Schrier recently brought up the issue of rising gas prices with Secretary of the Department of Energy Jennifer Granholm during an Energy Subcommittee budget hearing. And last month, Rep. Schrier pushed executives of six of the largest gas and oil companies to do more to bring down the price at the pump, especially when these companies have made record profits.
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