June 24, 2008(Key vote)
Title: Price Gouging Prevention Act
Vote Smart's Synopsis:
Vote to pass a bill that prohibits price-gouging of gasoline and other petroleum based fuels during times of an energy emergency.
Provides that the president may issue an energy emergency proclamation which states the geographic area covered, the gasoline or other petroleum based fuel covered, and the time period that the proclamation shall be in effect (Sec. 2).
Subjects violators to a civil penalty of up to three times the amount of profits gained through price gouging, and prohibits the fine from exceeding $3 million (Sec. 3).
Allows for civil penalties of up to $1 million for individuals who provide false information in regards to price gouging (Sec. 3).
States that each day an individual is in violation of the law is to be considered a separate offense (Sec. 3)
Allows for criminal penalties of up to $150 million for corporations and $2 million for individuals, or up to 10 years imprisonment, in addition to the civil penalties (Sec. 4).
NOTE: THIS VOTE WAS TAKEN UNDER A SUSPENSION OF THE RULES TO CUT OFF DEBATE EARLY AND VOTE TO PASS THE BILL, THEREBY REQUIRING A TWO-THIRDS MAJORITY FOR PASSAGE.