Representative Sheila Cherfilus-McCormick (D-FL) has introduced legislation preventing energy price gouging during times of war.
The recent war with Iran, which is currently in the middle of a two-week ceasefire, has caused energy prices to skyrocket thanks to the blockage of the Strait of Hormuz, a major oil tanker passage.
Due to the surge in oil prices, the White House temporarily lifted sanctions on Russian oil to offset costs at the end of March. Treasury Secretary Scott Bessent confirmed that the lifting applied solely to oil already in transit, but the move did not lower prices as hoped.
Even if gas could reach $4.50 a gallon nationwide if the worst comes to worst, there will be bad actors at home seeking to profit from the instability.
As a result, Rep. Cherfius-McCormick's Wartime Anti-Profiteering and Relief (WAR) Act seeks to prevent price gouging by strengthening federal oversight of energy and commodity markets.
"The ongoing conflict in the Middle East is already hitting families in Florida where it hurts most: their wallets," Rep. Cherfilus-McCormick said in her press release, adding, "We are seeing rising gas prices, higher utility bills, and increasing costs at the grocery store. The WAR Act is about protecting hardworking families from being priced out of basic necessities."
The Florida congresswoman emphasized how her constituents are "already dealing with high housing costs and rising insurance rates. Now they're being squeezed even further by global energy shocks."
"Middle-income families, in particular, are being left behind," she continued, "earning too much to qualify for assistance but not enough to absorb these sudden increases."
Thus, Chefilus-McCormick concluded, "We cannot allow bad actors to take advantage of global instability at the expense of American families. This bill ensures fairness, accountability, and real relief for the people we serve."
Cherfilus-McCormick is demanding swift action for Congress to pass the bill.
