The Federal Trade Commission (FTC) testified today before the House Energy and Commerce Subcommittee on Innovation, Data, and Commerce regarding the agency’s fiscal year 2025 budget and its efforts to promote competition and protect consumers.
In her testimony, FTC Chair Lina M. Khan discussed the agency’s initiatives to safeguard privacy and data security, combat fraud and junk fees, address opioid recovery fraud and other health-related scams, support all consumers including older adults, servicemembers, and historically underserved communities, and ensure fair competition for domestic manufacturers, independent repairers, and small businesses.
Chair Khan emphasized the FTC’s recent rule to ban noncompete clauses in employment contracts. The Commission estimates that these clauses affect one in five U.S. workers. She noted that the majority of public comments submitted by Americans supported this rule. Additionally, she highlighted the Commission’s work to prevent unlawful consolidation and identify anticompetitive conduct.
Khan pointed out that the FTC’s work requires resources and underscored the value it provides to Americans. In FY 2023, every $1 of the FTC’s costs returned an estimated $14 in benefits through consumer protection and competition law enforcement efforts.
Joining Chair Khan at the hearing were Commissioners Rebecca Kelly Slaughter, Alvaro Bedoya, Melissa Holyoak, and Andrew N. Ferguson.
The Federal Trade Commission works to promote competition while protecting and educating consumers. The FTC will never demand money or make threats; they do not instruct individuals to transfer money or promise prizes. More information on consumer topics can be found online at ReportFraud.ftc.gov. Follow the FTC on social media for updates on their latest news and resources.
