[Congressional Record Volume 154, Number 106 (Wednesday, June 25, 2008)]
[Extensions of Remarks]
[Page E1344]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                  FEDERAL PRICE GOUGING PREVENTION ACT

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                               speech of

                         HON. CHARLES B. RANGEL

                              of new york

                    in the house of representatives

                         Tuesday, June 24, 2008

  Mr. RANGEL. Mr. Speaker, I rise today to express my full support for 
H.R. 6346, also know as the Federal Price-gouging Prevention Act. I 
join my other colleagues from both sides of the aisle and American 
consumers to address the issue of price gouging of gasoline and other 
fuels.
  This bill has received widespread support for several reasons. First, 
the bill gives the Federal Trade Commission the ability to investigate 
and punish companies that falsely inflate energy prices. It is 
unacceptable for energy companies to artificially raise prices. This 
bill serves to address these crimes and protect the American people.
  Second, this bill will allow for the Justice Department to collect 
criminal penalties and impose jail time during a state of national 
emergency on those who are found guilty of price-gouging. Most 
importantly, penalties collected from price-gouging companies will be 
forwarded to the Low-Income Home Energy Assistance Program, LIHEAP, to 
help families pay for their heating and air-conditioning bills.
  At this time, 28 states have passed legislation against price-
gouging. More laws are needed at both the state and local levels to 
ensure that those who are responsible for artificially raising energy 
prices are investigated and punished.
  I urge other colleagues to support this bill. I applaud the work done 
by to protect the American people from energy price-gouging.

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