Sen. Tammy Baldwin (D-WI) says it is time to crack down on companies that are charging too much for their products.
LA CROSSE, Wis. (WXOW) - Sen. Tammy Baldwin (D-WI) says it is time to crack down on companies that are charging too much for their products.
Sen. Baldwin is leading the Price Gouging Prevention Act. She said it is designed to protect Americans from corporations that are using inflation as an excuse to over charge consumers.Â
"When inflation started going down as we emerged from the pandemic, we didn't see the price at the grocery store go down," Baldwin explained. "And that's really frustrating to folks."
The Price Gouging Prevention Act would:
- Prohibit price gouging at the federal levelÂ
- Create an affirmative defense for small businesses acting in good faith
- Target dominant companies that have exploited the pandemic to boost profits
- Require public companies to clearly disclose costs and pricing strategies
- Provide additional funding to the Federal Trade Commission
Sen. Baldwin said some of the products this has been a major issue with are things like diapers, baby formula and other everyday items.Â
