Pass the Price Gouging Prevention Act (S. 3803 / H.R. 7390

Of all the responses to the economic upheavals of the pandemic, price gouging has got to be one of the most egregious. This is when prices go up, or continue to stay high, not due to market pressures or other economic factors, but only because the seller, renter, or provider wants to increase their already excessive profits. Some CEOs have even bragged to their shareholders about how much their profit-making pricing strategies exceed their inflationary increases in production costs. To fight back against what they call “greedflation,” Senator Elizabeth Warren and Rep. Jan Schakowsky have reintroduced their Price Gouging Prevention Act (S. 3803 / H.R. 7390) and are now seeking co-sponsors for the bills. As your constituent, I would like to urge you to co-sponsor and pass this bill. It has several important features: It will prohibit price gouging on a nationwide basis; it will take aim at companies that have taken advantage of the pandemic to jack up prices unnecessarily and keep them up; it will focus on companies whose executives brag to shareholders about increasing prices faster than inflationary costs; it will require public disclosure of companies’ costs and pricing strategies, and it will increase the FTC’s funding to enforce these conditions. Thank you for considering co-sponsoring the Price Gouging Prevention Act.