Price Gouging Prevention Act of 2024

Hozzl · 2024-06-12T10:56:24Z

Explore the details of Senate Bill 3803 Price Gouging Prevention Act of 2024 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Commerce. Stay informed on legislative developments.

6/12/2024, 10:56 AM

Summary of Bill S 3803

Bill 118 s 3803, also known as the Price Gouging Prevention Act of 2024, is a piece of legislation introduced in the US Congress aimed at preventing price gouging during times of crisis or emergency. The bill seeks to protect consumers from unfair and excessive price increases on essential goods and services, such as food, water, fuel, and medical supplies.

Under the Price Gouging Prevention Act of 2024, it would be illegal for businesses to significantly increase prices on essential goods and services during a declared state of emergency. The bill defines price gouging as any price increase that is grossly excessive, unjustified, and not related to increased costs of production or distribution.

The legislation also includes provisions for enforcement and penalties for businesses found to be engaging in price gouging. Violators could face fines, civil penalties, and even criminal charges in severe cases. Overall, the Price Gouging Prevention Act of 2024 aims to protect consumers from exploitation during times of crisis and ensure that essential goods and services remain affordable and accessible to all. The bill has garnered bipartisan support in Congress and is currently under review in committee for further consideration.

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Current Status of Bill S 3803

Bill S 3803 is currently in the status of Bill Introduced since February 26, 2024. Bill S 3803 was introduced during Congress 118 and was introduced to the Senate on February 26, 2024. Bill S 3803's most recent activity was Committee on Banking, Housing, and Urban Affairs Subcommittee on Economic Policy. Hearings held. as of May 22, 2024

Bipartisan Support of Bill S 3803

Total Number of Sponsors

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Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

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Policy Area and Potential Impact of Bill S 3803

Primary Policy Focus

Commerce

Alternate Title(s) of Bill S 3803

Price Gouging Prevention Act of 2024

A bill to make price gouging unlawful, to expand the ability of the Federal Trade Commission to seek permanent injunctions and equitable relief, and for other purposes.