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S Amdt 2612 - Price-Gouging During Emergencies Amendment - National Key Vote

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Title: Price-Gouging During Emergencies Amendment

Vote Smart's Synopsis:

Vote on a motion to waive the Budget Act in order to adopt an amendment that makes it illegal to sell crude oil, gasoline, or petroleum distillates at a price that is excessive or takes unfair advantage during a declared state of emergency.

Highlights:

  • Sets a civil penalty for charging prices grossly above the original price of crude oil, gasoline, or petroleum during a declared state of emergency of no more than $3 million.
  • Sets the criminal penalty for charging prices grossly above the original price of crude oil, gasoline, or petroleum during a declared state of emergency at a maximum of five years in prison, a fine of up to $3 million, or both.
  • Authorizes the Federal Trade Commission to enforce this act.

NOTE: A MOTION TO WAIVE THE BUDGET ACT, IF ADOPTED, TEMPORARILY SETS ASIDE A SPECIFIC PROVISION OF THE BUDGET ACT OF 1974 SO THAT AN AMENDMENT THAT VIOLATES THE ACT MAY BE CONSIDERED. A 3/5 MAJORITY IS REQUIRED FOR ADOPTION.

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