OKLAHOMA CITY (OBV) – A bill that eliminates mandatory markups on everyday consumer goods in Oklahoma is closer to being signed into law.
Senate Bill 638, written by Senate Majority Floor Leader Julie Daniels, R-Bartlesville, and House Majority Deputy Floor Leader Steve Bashore, R-Miami, aims to end a law that forces retailers to add a 6 percent markup to everyday consumer goods.
The bill is called the Unfair Sales Act. It repeals the Oklahoma’s 76-year-old Price Control Act, which requires Oklahoma businesses to impose a minimum 6 percent markup on retail goods, including gasoline, groceries, over-the-counter medicines, diapers and other common necessities.
“Repealing this outdated law reinforces the Legislature’s commitment to providing inflation relief for hardworking Oklahomans by putting more money back in their pockets,” Daniels said. “Coming on the heels of eliminating the state grocery tax — the largest tax cut in Oklahoma history — this bill takes another meaningful step toward helping families save on everyday essentials while eliminating an unnecessary government mandate.”
Only is one of only seven states that have a mandatory price hike on retail items. Several other states have rescinded similar laws in recent years, according to officials with the state legislature.
The Unfair Sales Act encourages Oklahomans to shop local, according to Bashore.
“Forcing Oklahomans to pay 6 percent more for everyday items is simply unacceptable,” Bashore said. “We want our residents to shop in state for what they need without going to surrounding states where this unfair markup no longer exists. This will ultimately benefit the taxpayer, our local businesses and our overall state economy, and will allow the free market to flourish as intended.”
The bill passed the Oklahoma House of Representatives with an amendment. It returned to the Senate for fourth reading and final passage before being sent to the governor for his consideration of signing it into law.
