In her recent economic speech, Senator Bob Casey’s Anti-Price Gouging Act received strong support from Vice President Kamala Harris, who sponsored the Anti-Excessive Price Gouging Act. The bill aims to protect American families from corporate greed by creating a new federal ban on grossly excessive price increases and empowering the Federal Trade Commission (FTC) and state attorneys general to enforce the ban.
Since fall 2023, Senator Casey has been actively investigating price gouging and other activities of large corporations that strain the budgets of American families. His efforts have resulted in the production of four detailed reports that shed light on the impact of corporate greed on middle-class families and the economy.
“Families are tired of being squeezed by giant corporations that drive up their prices and make record profits. I call it greedflation and I stand against it. This important legislation will crack down on big corporations and finally ban price gouging,” said Senator Casey, stressing the need to hold corporations accountable for their actions.
The Price Gouging Prevention Act aims to combat companies that take advantage of American families and exploit consumers through greedflation. It is similar to a similar law in Pennsylvania against “unreasonably excessive” price gouging, which is not yet banned at the national level.
Senator Casey’s investigations into shrinkflation and his actions against companies like Target, Walmart, Amazon, Kroger Supermarket and Wendy’s underscore his commitment to protecting American families from deceptive pricing practices.
The Price Gouging Prevention Act and the Shrinkflation Prevention Act, introduced by Senator Casey, would give the Federal Trade Commission and state attorneys general the authority to crack down on companies that engage in such practices.
