(ConservativeInsider.org) – Much of our nation’s economy runs on the energy provided by competition in the marketplace as businesses try to create better and more innovative products than others. Yet, the new chairwoman of the Federal Trade Commission (FTC) is trying to expand her agency’s powers next week and regulate our marketplaces even more.
On Thursday, June 24, FTC chairwoman Lina Khan announced that the agency’s three Democrat and two Republican commissioners will vote on whether or not to keep a 2015 statement that limits the FTC’s power. This is an expected move from Khan, who’s notorious for her fight against Big Tech and the desire to regulate our nation’s largest corporations.
Penn State’s Regulatory Review program is keeping close tabs on Khan and her decisions:
Big Tech faces threats of increased regulation following a sweeping set of new antitrust bills and the appointment of new FTC Chair Lina Khan, @Voxdotcom’s @ShirinGhaffary reasons. https://t.co/LHM4etVeXg pic.twitter.com/m9LdguPCP0
— The Regulatory Review (@TheRegReview) June 21, 2021
One of the two Republican commissioners for the FTC, Christine Wilson, told the Washington Examiner that if the statement is rescinded as expected, it will likely “have many significant and harmful effects on American consumers well beyond regulating Big Tech,” especially as our nation recovers from the coronavirus pandemic.
While protecting consumers from monopolies is necessary to keep competition in the marketplace, Khan is hoping to expand the FTC’s powers beyond the traditional issues of mergers and acquisitions into areas like income inequality and corporate concentration. If Democrats continue down this road, our economy could be even more crippled than before.
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