by Alex Harman
Part 11 - Enact a Federal Price Gouging Statute
Part 11 - Enact a Federal Price Gouging Statute
There is currently no federal price gouging law. The absence of a federal law, combined with online shopping that transcends state borders, has created gaps in protection from price gouging, and has led to the potential for state price gouging laws to be ineffective at addressing online price gouging. We recommend a uniform, federal protection against price gouging that would serve as a floor, while allowing states to have greater protections. Specifically, a federal price gouging law should:
Provide a clear and unambiguous definition of price gouging such as a 10% increase in prices during an emergency;
Include a very broad list of products, goods, and services that would be covered;
Establish significant civil penalties enforceable by the Federal Trade Commission and state attorneys general;
Apply wherever price gouging occurs in the supply chain; and
Be applicable during the current COVID-19 pandemic as well as any disaster or health emergency now and in the future.
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