Latest news with #PriceControlAct
Yahoo
22-04-2025
- Business
- Yahoo
Bill could cut Oklahoma's mandatory grocery, gas tax
OKLAHOMA CITY (KFOR) – A bill to repeal a 76-year-old law in Oklahoma will be heard on Tuesday in the House Commerce and Economic Development Oversight Committee. The Price Control Act was enacted into law in 1949 and added a 6% markup to goods and essential items, like gasoline, groceries, pet food, and medications. Oklahoma is one of only seven states to have the tax, and the second highest percentage among states who still implement a similar markup tax. 'Most other states have moved away from this mandatory markup,' said Sen. Julie Daniels, R-Bartlesville. 'I believe it's time for us to do the same.' Daniels is the author of Senate Bill 638, which would eliminate the markup. It has easily passed through the Senate side at the Capitol. Some lawmakers did question if the bill would allow for more competitive prices or simply hurt the little guy. Senator Steve Bashore, R-Miami, has co-sponsored the bill on the House side. Bill proposes criminal charges for violating service animal rules 'This doesn't eliminate the tax, but it gives businesses an option,' said Bashore. 'Businesses can still mark their prices up if they want to.' Jim Randall is the chairman of the Oklahoma State Council on Aging. 'Oklahomans as a whole spend roughly $14,310 annually on groceries in that is an extra 6% that instead of being allowed to be in the competitive marketplace, is an imposition,' said Randall. He said people on a fixed income will benefit most from the change.'For every bit of extra dollars they have to spend on this, that puts them in a position to where they may have to compromise,' said Randall. 'Whether or not they go pick up a prescription, whether they go to a doctor or whether they have other services that are necessary and vital to their health.' The bill will be heard during the House committee at the Capitol on Tuesday at 3 p.m. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Express Tribune
15-02-2025
- Business
- Express Tribune
Govt cracks down on hoarding, price gouging
KARACHI: The Sindh government has launched a crackdown on hoarding and illegal profiteering in the metropolitan city, issuing notices to 45 warehouse owners allegedly involved in the stockpiling of sugar, rice, and other essential commodities. The crackdown was led by Special Assistant to the CM Ghani Hanguro for price and supply. The team visited Kachhi Galli Market and several warehouses storing essential goods. During the inspection, notices were issued to the 45 warehouse owners caught hoarding food items. These warehouses were primarily used for storing sugar, rice, and other basic items. Hanguro warned that legal action would be taken against hoarders, including the sealing of their premises and the arrest of the owners. Next week, a meeting has been scheduled with the Association of Spices, Sugar, Rice, and Commodities to discuss the registration of over 500 godowns and warehouses. Apart from addressing the hoarding issue, Hanguro's team ensured that the prices of fruits, vegetables, and chicken in the market adhered to official rates. During the visit, a case was also filed against a shopkeeper found making illegal profits, under the Price Control Act.
