US House fails to pass gasoline price gouging bill

Newswire

By Tom Doggett WASHINGTON, June 24 (Reuters) - Following a White House veto threat, the U.S. House of Representatives on Tuesday failed to passed legislation giving the Federal Trade Commission the authority to punish oil companies that charged excessive prices for gasoline during supply emergencies. The vote was 276-to-146 in favor of the bill, falling short of winning the two-thirds "yes" votes necessary to clear the chamber. Under the legislation, companies could have been fined up ...

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