FOR IMMEDIATE RELEASE
Thursday, September 15, 2005

Isakson Praises Senate Passage of Amendment on Price Gouging
Federal Government ‘Must Be Extremely Vigilant and Monitor Prices’

WASHINGTON – U.S. Senator Johnny Isakson (R-Ga.) today praised the Senate’s unanimous passage of an amendment mandating the Federal Trade Commission immediately begin an investigation on nationwide gas prices in the aftermath of Hurricane Katrina.

“I have great respect for the free enterprise system in American business but in the case of gas prices right now I believe we must be extremely vigilant and monitor prices,” Isakson said. “It’s very appropriate for the federal government to be a watchdog to make sure consumers are not victims of price gouging.”

The amendment, which was offered by U.S. Senator Mark Pryor (D-Ark.), requires the FTC to use at least $1 million to conduct a thorough and immediate investigation to determine if and where gas price gouging is occurring throughout the supply chain and distribution markets. The FTC will provide an initial report to Congress within 30 days, updates every 30 days afterwards, and a final report no later than 180 days after enactment.

Pryor’s amendment was passed as part of the appropriations bill for the Commerce, Justice and State Departments for Fiscal Year 2006, which passed the Senate today.

Please click here to listen to audio remarks by Isakson.

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