Denver, CO: Representatives Zokaie and Brown, along with Senator Weissman, introduced legislation with to protect Coloradans from price gouging on items of necessity such as diapers, food, and baby formula. Towards Justice, along with a broad coalition of advocates, stands in support of this legislation.
“Coloradans are facing increasing hardships due to rising grocery prices, while some big businesses continue to inflate their prices beyond what is necessary to cover increases in their costs,” explained Representative Yara Zokaie of House District 52. “I am proud to introduce a bill to strengthen our price gouging laws, which will safeguard our families and ensure that groceries remain affordable. We must prioritize people over profits and stand strong to promote a fair and equitable economy for all.”
This legislation would bar unfair and unconscionable increases in the cost of necessities. The bill would not prohibit businesses from increasing prices to account for increased costs, but it would prohibit corporations from taking advantage of market conditions to increase prices that serve only their increased profits.
“Coloradans are facing an affordability crisis and the price of groceries is straining families’ budgets,” explained Representative Kyle Brown of District 12. “As the cost of everyday essentials has soared, Coloradans have had to make impossible choices. This bill will protect families from excessive price increases on everyday essentials that literally put food on the table.”
During COVID-19, Colorado passed price gouging protections that apply during declared disaster emergencies, like pandemics. But the economic challenges of the past few years have shown how corporations can exploit broader market trends such as inflation, tariffs, and supply chain disruptions to justify excessive price increases far beyond covering those costs.
“COVID reminded us that sometimes corporate bad actors hide behind economic disruptions to jack up prices and rip off consumers,” said Senator Mike Weissman of District 28. “The years since COVID have illustrated that Coloradans deserve protections beyond just declared disaster emergencies. Our legislation will protect working Coloradans by empowering the Colorado Attorney General to take action against bad actors who hike prices beyond what economic realities justify.”
“Prices are too high, wages are too low, and working families are hurting. Very often, the culprit is nothing more than corporate greed. Even as basic necessities have become less affordable, corporate profits have ballooned. We need basic protections to ensure that businesses compete fairly for the benefit of everyone. That’s why we’re proud to stand in support of this legislation,” said David Seligman, Executive Director of Towards Justice.
“Businesses that have cornered the market on basic necessities should not be able to price people into poverty. This legislation would protect Coloradans from predatory business practices that put housing and food out of reach.” Zach Neumann, Co-Founder and CEO, Community Economic Defense Project.
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