FTC Chairwoman Plans Power Grab

FTC Chairwoman Plans Power Grab

(RightWing.org) – The Federal Trade Commission (FTC) has focused its attention on consumer protection since releasing a 2015 policy statement. The statement laid out FTC enforcement principles regarding “unfair methods of competition… affecting commerce” deemed unlawful under Section 5 of the FTC Act. In short, the statement restricted the FTC from addressing matters covered by prevailing anti-trust laws. However, that might change if Biden’s new FTC head Lina Khan gets her way.

Kahn announced last week that the FTC’s five-member commission would vote on Thursday, July 1, whether to rescind the 2015 policy statement, opening the door to expand the FTC’s powers.

The FTC focused its attention on traditional enforcement issues involving mergers and acquisitions for several years. However, with Democrats now controlling a majority of the commission, they aim to expand their power to address issues, such as income inequality and corporate concentration levels.

The FTC’s two Republican commissioners and several Republican legislators have expressed concern regarding the anticipated termination of the 2015 policy statement. Sen. Mike Lee (R-UT) expressed disappointment regarding Khan’s decision. He also noted the move indicated the FTC “rejects” the idea that limits exist to its “power [and] regulatory reach.” He serves as the ranking member on the Senate Judiciary Subcommittee on Competition Policy, Antitrust, and Consumer Rights.

Interested members of the public wanting to avoid a remake of “The Wrath of Khan” can sign up ahead of time to speak to the committee virtually after it conducts its business. They can also use the same web form to submit a pre-recorded video or a written statement.

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