WASHINGTON, D.C. — Rep. Josh Riley (NY-19) today introduced H.R. 4720, the ‘Cracking Down on Price Gouging Act,’ legislation that builds on the Defense Production Act’s legal protections to create the first robust national ban on price-gouging—the practice of charging excessive prices for scarce materials during times of crisis.
“In Upstate New York, we believe in fair prices and honest work,” said Rep. Riley. “But when corporate giants hike prices on food and medicine during a crisis, working families get squeezed just so Wall Street can cash in. That’s not the free market—it’s a shake-down. And this bill puts a stop to it.”
The Cracking Down on Price Gouging Act strengthens the Defense Production Act of 1950 (DPA), a law meant to stop hoarding and profiteering during wartime. Right now, it bans sellers from stockpiling scarce goods and flipping them at inflated prices. Riley’s bill closes loopholes and creates the first national ban on price gouging during emergencies. The bill affirms that the Defense Production Act’s price gouging ban applies to sellers charging unfairly excessive prices for scarce materials designated by the President—and expands the law to cover additional critical goods facing acute shortages. Violators face steep penalties—the greater of $20,000 or 300% of their profits. And to protect honest businesses, the bill still allows price adjustments so long as they are tied to real costs.
“For seventy-five years, the Defense Production Act has recognized that economic security is national security. The Act’s anti-price-gouging provisions were critical during the COVID-19 pandemic, when both the Trump and Biden administrations relied on the DPA to prosecute retailers who were overcharging for critical products like KN-95 masks and other personal protective equipment. As Americans face persistent inflation and rising corporate power, Representative Riley’s Cracking Down on Price Gouging Act would strengthen the DPA’s protections for consumers by prohibiting companies from taking advantage of crises and emergencies to charge unfairly excessive prices for critical products,” said Joel Dodge, an Upstate New Yorker who is now the Director of Industrial Policy & Economic Security at the Vanderbilt Policy Accelerator.
The legislation builds on Congressman Riley’s record of combating corporate greed and lowering prices for working families.
Riley’s record of fighting for working families and against corporate greed:
- Introducing the ‘Lowering Egg Prices Act’ (H.R.2222), to lower egg prices for consumers by cutting bureaucratic red tape.
- Co-sponsoring the ‘Tax Fairness for Workers Act’ (H.R.2671), to allow workers to deduct employment expenses such as union dues, travel, and uniform costs.
- Co-sponsoring the ‘Freedom to Invest in Tomorrow’s Workforce Act’ (H.R.1151), to help more Americans obtain and retain well-paying jobs that don’t require a traditional four-year degree.
- Co-sponsoring the ‘Protecting the Right to Organize (PRO) Act of 2025′ (H.R.20), to protect workers’ right to come together and bargain for higher wages, better benefits, and safer workplaces.
- Calling out Washington politicians for ‘stupid’ plan to kill Upstate manufacturing jobs (March 11, 2025).
- Leading Freshman Democrats in calling for a trade policy that strengthens America’s middle class, rebuilds the U.S. industrial base, and safeguards family farms and small businesses (June 6, 2025).
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