Advances Transportation Fuel Market Transparency Act which will protect consumers at the pump by uncovering possible market manipulation
WASHINGTON, D.C.— The U.S. Senate Committee on Commerce, Science, and Transportation advanced several bills today, including Senator Cantwell’s Transportation Fuel Market Transparency Act that would give the Federal Trade Commission authority to monitor and prevent any fraud or manipulation that may be artificially inflating gas pump prices. All are subject to approval by the full Senate.
“The rising prices of fuel is wreaking havoc…,” said Sen. Cantwell, on the importance of expanding FTC authority to monitor fuel markets for possible manipulation. “Congress has given the Federal Energy Regulatory Commission and the Commodities Future Trading Commission ability to police bad actors [so] then they can be caught and punished. But we also need a policeman on the beat as it relates to the transportation fuel market.”
The Committee also passed Sen. Cantwell’s bipartisan Fire Ready Nation Act to codify and strengthen the National Oceanic and Atmospheric Administration’s (NOAA) authority and capacity to help prevent, forecast and fight wildfires.
“Last year, our state's wildfire burned more than 670,000 acres. 73% burned from fires started by lightning strikes. So weather is a very important aspect of predictability,” Sen. Cantwell said.
The following actions were taken during today’s Executive Session.
- S. 4101 Combating Human Rights Abuses Act of 2022
- S. 4109 National R & D Strategy for Distributed Ledger Technology Act of 2022
- S. 4237, Fire Ready Nation Act of 2022
- Lee_1 and Lee_2 (as modified)
- Lujan_1 (as modified)
- Rosen_1 (as modified) and Rosen_3
- Scott_2 (as modified)
- S. 4246, Advanced Aviation Infrastructure Modernization Act
Advanced to the Senate floor on 14-14 vote:
- S. 4217 Transportation Fuel Market Transparency Act