Nuked Amazon has requested that Congress pass a law that would make price gouging illegal during times of national crisis. In light of inflated prices on hand sanitizer and N95 masks that hounded the online retailer during the covid-19 pandemic.
Amazon has removed half a million price-gouged listings from its online stores. To date, it has banned 4,000 seller accounts on its US store alone for violating its fair pricing policy.
Amazon says that inconsistent state standards limit its ability to crack down on price gouging. Laws against raising prices currently exist in about two-thirds of the US.
A federal law would ensure there are’no gaps in protection for consumers’. It would help Amazon and other retailers’more effectively prevent bad actors and ensure fair prices’.
Amazon’s proposal would see a price gouging law that would kick in immediately when the federal government declares a public health crisis or national emergency. It would also establish clear pricing standards, define who and what are covered by the law, and ensure strong enforcement authority.
