Nancy Pelosi: House Votes to Crack Down on Price Gouging

May 23, 2007 -- Washington, D.C.- Speaker Nancy Pelosi released the following statement this afternoon on H.R. 1252, the Federal Price Gouging Prevention Act of 2007, which passed the House by a vote of 284 to 141 today, despite a veto threat from the Bush Administration:

“This Memorial Day, American families and businesses are yet again paying record prices for gasoline. With high gasoline prices this year already costing consumers and our economy an extra $20 billion, families are feeling a serious drain on their pocketbooks.

“Drivers are paying a heavy price for six years of the Bush Administration’s failed energy policies. Instead of investing in clean, domestic alternative fuels and renewable energy, Republicans lined the pockets of Big Oil, which was already making record profits. This has resulted in unprecedented dependence on foreign oil and record prices at the pump.

“Today, the House passed anti-price gouging legislation to protect Americans from being gouged at the pump and set our nation on a path toward lower gas prices. While the Bush Administration would rather veto a bill and protect Big Oil than provide consumer relief, the House voted to impose a tough new federal law to investigate and punish those who are cheating America’s families by artificially inflating the price of gasoline.

“I look forward to the Senate acting on legislation to punish gas price gougers in early June, so we can send a bill to the President’s desk that will put consumers first.”

Source: Speaker Nancy Pelosi