Bill > HR4528

This bill aims to prevent price gouging during exceptional market shocks by establishing new regulations and enforcement mechanisms. The legislation defines price gouging as selling goods or services at a "grossly excessive price" during times of market disruption, such as natural disasters, public health emergencies, or other significant market changes. The Federal Trade Commission (FTC) would be empowered to enforce these rules, with the ability to impose significant penalties on businesses that engage in price gouging. Companies with annual revenues over $100 million could face civil penalties of up to 5% of their annual revenues for violations. The bill provides some defenses for businesses if they can prove price increases are directly attributable to uncontrollable additional costs. Additionally, the legislation requires publicly traded companies to disclose detailed pricing information in their financial reports during exceptional market shock periods, including changes in sales volumes, pricing strategies, and gross margins. The bill also allows state attorneys general to bring civil actions against companies suspected of price gouging, and it appropriates $1 billion to the FTC to support implementation and enforcement of these new regulations. The goal is to protect consumers from excessive pricing during times of market vulnerability while providing a framework for businesses to understand their obligations and potential liabilities.

Business and Industry

https://www.congress.gov/bill/119th-congress/house-bill/4528/all-info