Executive Order No. 2904
Subject: Prohibition of Price Gouging
Date: TBA
By the authority vested in me as President of the United States, it is hereby ordered as follows:
Section 1: Definition of Price Gouging
Price gouging is defined as any unjustifiable increase in the price of goods, services, or commodities during times of emergency or significant demand.
Section 2: Restrictions on Price Changes
- Limitations on Increases: No business shall increase the price of:
- Services by more than 1%,
- Products by more than 1.5%, or
- Commodities by more than 0.001% of the total price.
- Emergency Context: These restrictions apply particularly during declared emergencies or periods of significant market disruption.
Section 3: Enforcement and Penalties
- Monitoring Compliance: The Department of Justice and the Federal Trade Commission (FTC) shall oversee the enforcement of this order. Businesses shall be required to maintain records of pricing changes and justifications for any increases.
- Violations and Penalties: Any business found in violation of this order shall be subject to:
- Heavy fines as determined by the regulatory authorities, or
- Suspension or revocation of business licenses.
Section 4: Reporting
The Secretary of Commerce shall submit a report to the President within 60 days detailing the enforcement actions taken, including the number of violations and penalties imposed.
Section 5: Effectiveness
This order shall take effect immediately upon signing and remain in effect until further notice.
IN WITNESS WHEREOF, I have hereunto set my hand this Date_____________.
Signature__________________________________________________
President’s Name
President of the United States
END OF ORDER
