A new legislative effort is moving forward in Colorado, targeting price gouging on essential goods. House Bill 25-1010 seeks to curb excessive price hikes on necessities, ensuring families have access to affordable everyday items.
House Bill 25-1010 Takes Center Stage
The proposed bill was introduced in the state legislature on Wednesday, February 12th, and is designed to prevent retailers from dramatically increasing the cost of essential goods. The bill defines these essentials as items like toothpaste, baby formula, and other daily necessities crucial for families.
- The bill aims to regulate price hikes on essential goods.
- It would cap price increases at 10% over a 90-day average.
- It expands existing protections beyond declared disasters.
If passed, this measure could have a significant impact on consumer protection efforts in Colorado, particularly as inflation and supply chain disruptions affect prices nationwide.
How the Law Would Change
Currently, price gouging laws apply only during officially declared disasters. House Bill 25-1010 would broaden this scope, making it illegal for businesses to raise prices by more than 10% of their average price over the previous 90 days, even outside of an emergency declaration.
This change is intended to provide year-round protection for consumers, ensuring that essential items remain reasonably priced regardless of external circumstances.
Legislative Support and Next Steps
The bill is gaining traction among lawmakers who argue that unchecked price hikes disproportionately impact low-income families. While businesses argue that market fluctuations and supply chain constraints sometimes necessitate price adjustments, supporters of the bill believe stronger consumer protections are necessary.
The debate will continue as HB 25-1010 moves through the legislative process, with both consumer advocates and business representatives weighing in on its potential economic implications.
