Rep. Young Kim warns against government price control bill, calls it socialism

U.S. Representative Young Kim (CA-39) voted against House Democrats’ bill (H.R. 7688) to implement government price controls on the energy industry, which would stifle energy production and worsen the prices already hurting consumers.

“As gas prices continue to reach record highs and are over $1 higher in California, Speaker Pelosi and Democrats blocked a bill promoting U.S. energy seven times this week and are instead taking a step out of Venezuela’s economic playbook with government price controls. This isn’t the way to lower prices, hold companies accountable, increase production or help our economy. It’s socialism,” said Kim. “We tried price controls in the 1970s, and this only made the crisis worse, hurt U.S. industries and caused more shortages of products for consumers. I’ll keep fighting to expand our U.S. supply chains and production across industries, promote American energy independence and get our economy back on track.”