James Davis: “for years, many Members of this Congress have pushed for exactly this type of measure to be adopted today that would…”

“for years, many Members of this Congress have pushed for exactly this type of measure to be adopted today that would give the Federal Trade Commission, the FTC, the authority it needs to investigate price gouging. We are living in a time in my home State of Florida and every State with record profits and record prices, and I think the only people in the United States of America who think there is nothing wrong with these prices are the executives of these oil companies. The only good thing that has come out of the price that we are all having to pay at the pump, it has finally forced this Congress to take a necessary first step. I commend Congresswoman Wilson. This bill is meaningful. It is a good first step in setting significant fines and penalties if, in fact, there is truly an investigation and enforcement or even the threat of enforcement. This bill will give the FTC the authority to define what price gouging is and then to take action. {time} 1145 The strong arm of the Federal Government is necessary to act. This is too much power in the hands of a few companies for a single State to act against. As Congresswoman Schakowsky pointed out, the unfortunate gratuitous remarks by the President that he does not think there is price gouging undermines our actions today. I do not know what it feels like to him and others, but it sure feels like price gouging to me when I fill up my car, and I think I can say that on behalf of the Floridians that I represent.…”