Price Gouging Prevention Act of 2022

The Price Gouging Prevention Act of 2022 would grant the Federal Trade Commission (FTC) and state attorneys general the authority to penalize companies that increase prices to "unconscionably excessive" levels during periods of significant market disruption. This legislation targets large corporations that utilize national emergencies, such as pandemics or natural disasters, to disproportionately raise costs for essential goods and services. For everyday citizens, the bill aims to provide a layer of protection against sudden price spikes at the grocery store or gas pump by requiring greater transparency from companies regarding their pricing strategies during economic shocks.