During Thursday’s House Appropriations Committee hearing, Rep. David Joyce (R-OH) spoke about the importance of the Federal Trade Commission.
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00:00Members will have five legislative days with which to revise and extend their remarks and insert extraneous material into the record.
00:07I now recognize myself for an opening statement.
00:09I'd like to thank Chairman Ferguson for being here today and his leadership over the last several months.
00:14The Federal Trade Commission plays an important role in promoting marketplace competition and protecting consumers.
00:19Ensuring robust competition is vital to fostering economic growth while also lowering costs for all Americans.
00:25Over the last several years, under previous leadership, the FTC routinely strayed from its core mission and stretched the limits of its statutory authorities.
00:33I'm encouraged by the Commission's renewed focus and direction under your leadership.
00:38Advances in technology and the emergence of artificial intelligence have presented new opportunities and challenges for businesses and consumers alike.
00:44American innovators are at the forefront of these major technological advances.
00:48While regulators have a responsibility to maintain common-sense guardrails, they should do so in a way that does not stifle innovation and force good-paying jobs overseas.
00:57The FTC's spending level for fiscal year 2025 was held flat from FY 2024 at $425.7 million.
01:06Despite that flat funding, for the last two fiscal years, the Commission faces rising costs for expert witnesses, infrastructure, and technology.
01:13Furthermore, the recent passage of the Take It Down Act required the FTC to deploy additional resources to crack down on the publication of non-consensual intimate images, including those generated by AI.
01:25I look forward to hearing more about the Commission's implementation of this important piece of legislation and the additional resources that will be required.
01:32Chairman Ferguson, you have described the Federal Trade Commission's role as a cop on the beat.
01:36Like police officers, the Commission has the responsibility to enforce the law fairly, without bias or prejudice.
01:41The American people deserve an FTC that sticks to its core mission of promoting competition and preventing fraud in the marketplace.
01:48Providing regulatory certainty and predictability of the private sector will spur an economic growth and benefit all Americans through affordable prices.
01:56I look forward to hearing from Chairman Ferguson about his vision for the Commission and the resources that will be required to execute on the Federal Trade Commission's mission.
02:04I now recognize the ranking member, Mr. Hoyer, for his opening statement.
02:08Thank you, Chairman.
02:09Thank you, Chairman.
02:09Thank you, Chairman.