Overview
Title
To establish the Task Force to Stop Price Gouging, and for other purposes.
ELI5 AI
H. R. 8493 is a new plan to make sure people don't cheat others by charging too much for things they need, like food. It creates a special team that will check up on prices and make sure everyone plays fair.
Summary AI
H. R. 8493 establishes the "Task Force to Stop Price Gouging." This task force will focus on unfair and illegal pricing practices that negatively impact consumers in the United States. It will consist of members from the Department of Justice, the Federal Trade Commission, and the Department of Agriculture. The task force will investigate and recommend actions to discourage anti-competitive and deceptive business practices and prevent food price manipulation. Additionally, it will provide regular reports to Congress detailing efforts and actions related to price control and food supply chains.
Published
Keywords AI
Sources
Bill Statistics
Size
Language
Complexity
AnalysisAI
Overview of the Bill
The "Task Force to Stop Price Gouging Act of 2024," introduced in the U.S. House of Representatives, seeks to establish a dedicated task force aimed at addressing unfair and illegal pricing practices affecting consumers nationwide. The proposed task force would include representatives from key federal agencies like the Department of Justice, Federal Trade Commission, and Department of Agriculture. Its primary mission would be to investigate harmful business practices, prevent monopolistic behavior in the food sector, and regularly report on efforts to Congress.
Significant Issues
A pressing concern with the bill lies in potential overlapping duties among existing agencies. With multiple entities already tasked with consumer protection and fair market practices, redundancy could lead to inefficient use of resources unless clearly defined roles are established. Furthermore, the lack of a specified budget or funding source raises questions about how the task force will operate financially.
The bill’s mandate for the task force to submit reports to Congress every 90 days may introduce an additional administrative workload, possibly detracting from the task force's core activities. Without clear criteria for measuring progress, these reports could become repetitive and less impactful.
Moreover, the language used in the bill, such as "counteract food price manipulation," is vague and might result in varied interpretations, posing potential legal challenges and complicating enforcement. Consequently, the broader language regarding interagency coordination also lacks specificity, which may hinder effective collaboration.
Potential Impacts on the Public
For the general populace, the bill presents a proactive approach to combating price gouging, an issue that can result in financial hardship, particularly for families with limited income. Should the task force effectively identify and mitigate unfair pricing, consumers stand to benefit significantly by maintaining access to affordable goods, especially food items.
Potential Impacts on Stakeholders
Specific stakeholders, such as businesses in the food supply chain, may experience increased scrutiny and regulatory pressures. While this could prevent unethical practices, it might also introduce additional compliance costs or legal complexities for companies. Conversely, small businesses and fair-practice retailers could benefit if the task force effectively levels the competition by curbing anti-competitive behaviors from larger corporations.
Government agencies involved in the task force might face organizational and operational challenges due to new responsibilities that necessitate clear coordination and integration with existing duties. Successfully achieving the bill's objectives will heavily rely on overcoming these logistical challenges.
Overall, the "Task Force to Stop Price Gouging Act of 2024" endeavors to safeguard consumer interests but must address the highlighted issues to ensure effective implementation and avoid redundant bureaucracy.
Issues
The establishment of the Task Force to Stop Price Gouging in Section 2 might lead to overlapping responsibilities with existing agencies, potentially resulting in wasteful spending without clear budget specification or funding sources.
The bill in Section 2 lacks a clear mechanism for evaluating the effectiveness of the Task Force, which could lead to accountability issues and inefficiencies in achieving its objectives.
The requirement for the Task Force in Section 2 to submit reports to Congress every 90 days might create an administrative burden without defined criteria for evaluating progress, making it potentially inefficient and resource-intensive.
In Section 2, the terms such as 'counteract food price manipulation' are vague and might be subject to interpretation, leading to potential implementation challenges and legal ambiguities.
The broad language around 'strengthening interagency efforts' in Section 2 lacks specific details on how these efforts will be coordinated and implemented, potentially leading to confusion and inefficiency.
The bill in Section 1 provides only a short title, 'Task Force to Stop Price Gouging Act of 2024', without detailed information, making it challenging to review for potential issues such as favoritism, wasteful spending, or complex language.
Sections
Sections are presented as they are annotated in the original legislative text. Any missing headers, numbers, or non-consecutive order is due to the original text.
1. Short title Read Opens in new tab
Summary AI
The section states that this law can be called the "Task Force to Stop Price Gouging Act of 2024."
2. Task Force to Stop Price Gouging Read Opens in new tab
Summary AI
The Task Force to Stop Price Gouging is created to tackle unfair and illegal price increases affecting U.S. consumers. It includes members from the Department of Justice, Federal Trade Commission, and Department of Agriculture, tasked with investigating business practices, preventing food sector monopolies, and reporting to Congress on efforts and impacts on food prices every 90 days.