Bart Stupak: “as Congress gets ready for the Fourth of July recess, I am reminded again that we do not have a Federal price gouging…”

“as Congress gets ready for the Fourth of July recess, I am reminded again that we do not have a Federal price gouging law on the books. And just in time for the Fourth of July. In Marquette, Michigan, last night, gas prices were $2.89. When my constituents woke up this morning, it is now $3.09. Just in time for the Fourth of July. For almost a year now, we Democrats have been calling on the Republican leadership to allow a real gas price-gouging bill to be passed in the law. One hundred and thirty-five Members of this body have signed a discharge petition requesting that my legislation, the Federal Response to Energy Emergencies, the FREE Act, be brought to the floor for a vote. After continued lobbying from Democrats, Republicans finally introduced their own legislation, which was called ``price gouging,'' and it is price gouging in theme only, and that bill was passed by this body in May. Unlike the Republican price-gouging legislation, my legislation, the FREE Act, would specifically set guidelines for the Federal Trade Commission to use to define price gouging, including provisions that would make illegal unconscionable pricing, providing false information, and market manipulation. The FREE Act also contains a provision that would promote price transparency, helping the consumer to understand the information to know what gas and oil prices should be that would be fair and reasonable. The FREE Act would also apply to natural gas and propane.…”