Pappas's Anti-Inflation Legislation to Hold Oil Companies Accountable for Ripping Off Consumers Passes House

Press Release

Today, Congressman Chris Pappas (NH-01) helped to pass the Consumer Fuel Price Gouging Prevention Act in the House. This bill enacts key provisions from legislation Pappas previously introduced alongside Congressman Mike Levin (CA-49), the Transportation Fuel Market Transparency Act, giving the Federal Trade Commission (FTC) the power to penalize oil companies if they inflate the price of gasoline.

The final bill also includes an amendment offered by Pappas to establish a new unit at the FTC devoted to protecting the public interest by monitoring fuel markets to facilitate transparent and competitive market practices, target bad actors by identifying fuel market manipulation and empower the FTC to hold those responsible accountable.

"I've been pushing for legislation to crack down on price-gouging, provide a gas tax holiday, and lower prices at the pump," said Congressman Chris Pappas. "The last thing Granite Staters need right now is even higher prices at the gas pump, and we must use every resource available to bring down costs for our families and small businesses. It's unacceptable that while Americans struggle to make ends meet gas and oil companies are taking advantage of international crises to make record profits. The price of crude oil fell last month, yet the prices consumers pay at the pump continued to rise. We have to put an end to this corporate profiteering and give families relief."

Background:

Congressman Pappas helped introduce the Transportation Fuel Market Transparency Act in the House alongside Congressman Mike Levin (CA-49).

Congressman Pappas is a cosponsor of the Gas Prices Relief Act, which would suspend the gas tax.

Source