Legislation
The first version of a bill to establish a commission to regulate trade was introduced on January 25, 1912, by Oklahoma congressman Dick Thompson Morgan, once known as the "father of the Federal Trade Commission." Morgan also made the first speech on the House floor advocating its creation on February 21, 1912. Though the initial bill did not pass, the Republican party platform of June 1912 endorsed the establishment of the Federal Trade Commission. Morgan reintroduced a slightly amended version of his bill during the April 1913 special session.
On May 23, 2007, the House passed the Energy Price Gouging Prevention Act, H.R. 1252, which will provide immediate relief to consumers by giving the Federal Trade Commission the authority to investigate and punish those who artificially inflate the price of energy. It will ensure the federal government has the tools it needs to adequately respond to energy emergencies and prohibit price gouging – with a priority on refineries and big oil companies.
Read more about this topic: Federal Trade Commission
Famous quotes containing the word legislation:
“Being offended is the natural consequence of leaving one’s home. I do not like after- shave lotion, adults who roller-skate, children who speak French, or anyone who is unduly tan. I do not, however, go around enacting legislation and putting up signs.”
—Fran Lebowitz (b. 1950)
“But the wise know that foolish legislation is a rope of sand, which perishes in the twisting; that the State must follow, and not lead the character and progress of the citizen; the strongest usurper is quickly got rid of; and they only who build on Ideas, build for eternity; and that the form of government which prevails, is the expression of what cultivation exists in the population which permits it.”
—Ralph Waldo Emerson (1803–1882)
“No legislation can suppress nature; all life rushes to reproduction; our procreative faculties are matured early, while passion is strong, and judgment and self-restraint weak. We cannot alter this, but we can alter what is conventional. We can refuse to brand an act of nature as a crime, and to impute to vice what is due to ignorance.”
—Tennessee Claflin (1846–1923)