Senate Committee Fails to Advance Gas-Price Gouging Bill

The Transportation Fuel Market Transparency Act (S.4217), Democratic legislation that would direct the Federal Trade Commission to proactively monitor and prevent artificial inflationary fuel prices and increase federal penalties for violators, failed to advance out of the Senate Commerce, Science, and Transportation Committee. The legislation failed in a 14-14 vote with no Republican support. A similar bill, the Consumer Fuel Price Gouging Prevention Act (H.R.7688), passed the House of Representatives in May.

Majority Leader Chuck Schumer wants the full Senate to vote on the legislation, but the bill is unlikely to garner the support necessary for passage. Senator Roger Wicker, ranking member of the Commerce Committee, said the legislation is fundamentally flawed. The fossil fuel industry, Republicans, and some moderate Democrats have disputed the Democratic argument that price gouging by oil companies is contributing to high gasoline prices.

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