Findings; declaration of emergency

(a) Findings Congress finds the following: (1) The ongoing armed conflict involving the United States, Israel, And Iran (in this Act referred to as the U.S. Israel–Iran conflict) has contributed to elevated global oil prices and higher gasoline prices for consumers in the United States, with national averages rising and forecasters warning of additional inflationary pressure on transportation and logistics costs. (2) Natural gas and liquefied natural gas markets are under strain because a significant share of global supply transits or is priced with reference to routes in and around the strait of hormuz, which are directly affected by the U.S Israel–Iran conflict, exposing American households to higher heating and electricity costs. (3) Increases in energy prices arising from the U.S Israel–Iran conflict have cascading effects on the costs of housing, food, and borrowing, disproportionately burdening middle-income households who are ineligible for many low-income assistance programs but lack sufficient savings to absorb sustained price shocks. (4) Bad actors, including certain market participants in fuel, home heating, and consumer staples, have both the incentive and opportunity to engage in unjustified price increases during the U.S Israel–Iran conflict, exacerbating hardship for American families. (b) Declaration of emergency It is the sense of Congress that the United States is experiencing a war-related energy cost emergency directly attributable to the U.S.–Israel–Iran conflict that warrants targeted, temporary relief for middle-income households and enhanced enforcement against price gouging in essential goods, for the duration of that conflict and its immediate aftermath only.