WALZ FIGHTS TO STOP GAS PRICE GOUGING

"U.S. House"

06/25/2008

(Washington, DC) – As Minnesotans are preparing their travel plans for the 4th of July, Congressman Walz took steps today to stop price gouging at the pumps. Walz joined 275 of his colleagues in voting for the Federal Price Gouging Prevention Act (HR 6346). This legislation will allow the Federal Trade Commission (FTC) to investigate and punish individuals and companies taking advantage of American consumers and will help families and businesses that are struggling with record gas prices.

“Our summer driving season is well underway and hard working families are paying a heavy price for this Administration’s failure to hold Big Oil accountable,” said Walz. “In Mankato, gas costs $3.93 a gallon, which is more than double the cost when Bush took office. Enough is enough.”

Walz continued, “This bill will allow the FTC to investigate and punish those who artificially inflate the price of gasoline and diesel fuel to greedily make more money. Under the bill, the Justice Department could impose criminal penalties of up to $150 million on corporations and fines of up to $2 million and jail sentences of up to 10 years for individuals who are found guilty of gas price gouging.”