Cracking Down on Price Gouging Act

# Cracking Down on Price Gouging Act Summary **What the Bill Would Do** The Cracking Down on Price Gouging Act (HR 4720) would establish federal rules to prevent businesses from dramatically raising prices on essential goods during emergencies. If passed, it would make price gouging—charging excessively high prices during crises like natural disasters, pandemics, or supply shortages—illegal under federal law. The bill would apply to products considered necessary for survival and basic needs, though specific goods aren't detailed in the available information. **Who It Affects** This legislation would primarily affect businesses and retailers that sell essential goods during declared emergencies. Consumers would benefit from price protections during crisis periods when prices typically spike.

The bill was introduced by Representative Josh Riley (D-NY), reflecting Democratic support for price regulation during emergencies. **Current Status** As of now, HR 4720 remains in committee, meaning it hasn't advanced to a full congressional vote. The bill is in the early legislative stage and would need committee approval and broader congressional support to move forward. Many details about enforcement mechanisms and penalties aren't available from the basic bill information provided.