Cracking Down on Price Gouging Act

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 4720 Introduced in House (IH)] <DOC> 119th CONGRESS 1st Session H. R. 4720 To amend the Defense Production Act of 1950 to provide for stricter prohibitions on price gouging of certain materials, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES July 23, 2025 Mr. Riley of New York introduced the following bill; which was referred to the Committee on Financial Services _______________________________________________________________________ A BILL To amend the Defense Production Act of 1950 to provide for stricter prohibitions on price gouging of certain materials, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Cracking Down on Price Gouging Act''. SEC. 2. PROHIBITION ON PRICE GOUGING OF CERTAIN MATERIALS. The Defense Production Act of 1950 (50 U.S.C. 4512) is amended-- (1) in section 102-- (A) by striking ``In'' and inserting the following: ``(a) Prohibition on Hoarding and Price Gouging of Certain Materials or Goods.--In''; (B) by inserting ``and price gouging'' after ``prevent hoarding''; (C) by striking ``accumulate (1)'' and inserting ``(1) accumulate''; (D) by striking ``for the purpose of resale at prices in excess of prevailing market prices'' and inserting ``sell or offer to sell at prices that grossly exceed prevailing market prices for the same or similar materials or critical goods in the trade area or at an unfairly excessive price''; (E) by striking ``accumulation.'' and inserting ``accumulation, or any critical good under an acute shortage.''; (F) by inserting ``scarce'' after ``designation of''; and (G) by adding at the end the following: ``(b) Unfairly Excessive Price.-- ``(1) In general.--A price is an unfairly excessive price if there is a gross