Minnesota Progressives are Holding Corporations Accountable for Price Gouging
The Minnesota House of Representatives just approved landmark legislation to stop large corporations from artificially raising prices to increase their profit margins during times of emergency.
The bill would allow the governor to declare a period of “abnormal market disruption” during which corporations could not set “unconscionably excessive” prices for essential goods and services.
Once the bill passes through the Senate and is signed into law by Governor Walz, Minnesota will join 36 other states in prohibiting excessive price hikes on essential goods like food, gas, prescription drugs, and hygiene products.
The legislation is championed by progressive Representative Zach Stephenson, who says we need to stop corporations from taking advantage of Minnesota families during times of crisis:
“During times of crisis, the last thing Minnesotans deserve are bad actors seeking to profit off of the needs and fears of others. Price gouging is a morally repugnant practice and it hurts those who have been most impacted by crises; it’s time for our state to stand up for each other and hold these bad actors accountable.”
Enough is Enough
Mega-corporations nationwide continue to rake in record profits while working families bear rising costs.
Progressives in the Minnesota Legislature have previously introduced measures to crack down on corporate price gouging, but conservatives in the Senate blocked the efforts.
With a historic progressive trifecta leading Minnesota, the time is now to pass meaningful legislation that will deliver for Minnesota families.
We can’t wait to see how Governor Walz and the progressive leadership at the Capitol will continue to work together to invest in our communities and build a better Minnesota.
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