Date: 2016-03-23
Speaker: JACKSON LEE (democrat)
Chamber: H

Mr. Speaker. I thank the distinguished gentleman from Georgia. and I thank the chairman of the full committee and the author of this bill. I rise in combination of speaking on this bill. but also offering my deepest sympathy to the people of Brussels. the people of Belgium which. some would say. is the heart of the civic participation of Europethey are certainly dear friends of the United Statesthough we would mourn any who have been impacted by the dastardly deeds of terrorism. I know in our committee. Mr. JOHNSON and Mr. GOODLATTE are working on these issues. I would hope that we could move the no fly for foreign terrorists bill as quickly as possible as we make our way through these issues of determining how we disrupt the ideology and then the actions that result in the deaths of innocent persons. So I offer that. Mr. Speaker. I am struck by the name of this bill because I dont know who gets smarter. I know that the consumers get poorer and that there are opportunities for victimizing the consumers. This bill does not create equal rules or implement smarter legislation. But if I might take up the comment about the increasing cost of prescription drugs. that is clearly a result of not allowing the FTC to pursue and to proceed because it is our arm of equalizing and balancing the consumer. On this day. when we acknowledge the sixth anniversary of the Affordable Care Act that has brought health insurance to 20 million people. we know that what we need to fix is the rising cost of prescription drugs. So this bill is about attacking the administrative authority of the Federal Trade Commission. It is an unnecessary measure that would fundamentally undermine the FTCs independent enforcement authority and ability to prevent anticompetitive mergers. As a law student. I remember in my antitrust classes how the FTC was highlighted as one of the anchors of balance and the anchors of protection of innocent civilians. Specifically. if enacted. the SMARTER Act would strip the FTC of power by eliminating the agencys authority to enforce antitrust laws in larger merger cases and by blocking its ability to use its administrative proceedings to stop a harmful merger transaction. Why is that? The FTC is where you can engage and have discussion. The bill seeks to do so by requiring that the FTC use the same enforcement process as the DOJ. There is more ability for the little guy to be heard at the FTC. This proposed sweeping change undercuts the FTCs administrative litigation process for contested mergers or acquisitions and effectively removes a very core and functioning character of the agency. lets more people in the door to express themselves for or against this merger. how it impacts. with less resources needed to get in front of an administrative agency than dealing with the Department of Justice. Moreover. reducing the FTCs independence directly conflicts with Congress intent in creating this antitrust enforcement agency and policymaking body as a distinct and independent shield from political and executive interference. As enforcers of section 7 of the Clayton Act. both the FTC and DOJ have the authority and responsibility to prohibit mergers and acquisitions that substantially lessen competition. That saves money because competition helps save money. These agencies serve to complement each other. Why make them the same? They are not twins. Based upon historical experience and coordinated development. the FTC serves to protect consumers and consumer spending. health care. pharmaceuticals. professional services. food. energy. food safety. among other things. The DOJ typically assumes a specialized focus on larger corporate industries. like telecommunications. banks. railroads. and airlines. Serving as joint enforcement agencies for over 100 years. they work together. Dont take away the consumers arm. That is the FTC. This bill takes it away and puts the little guy under and the big guy up. Mr. Speaker. I rise in strong opposition to H.R. 2745. the Standard Merger and Acquisition Reviews through Equal Rules Actotherwise known as the SMARTER Act. Mr. Speaker. this bill is not about creating equal rules or implementing "smarter" legislation. Rather. it is about attacking the administrative authority of the Federal Trade Commission (FTC). H.R. 2745 is an unnecessary measure that would fundamentally undermine the FTCs independent enforcement authority and ability to prevent anticompetitive mergers. As we all know. the FTC was created by Congress with the specific intent of creating an independent antitrust enforcement agency and supplemental authority to the Department of Justice (DOJ). Specifically. if enacted. the SMARTER Act would strip the FTC of its power by eliminating the agencys authority to enforce antitrust laws in larger merger cases. and by blocking its ability to use its administrative proceedings to stop a harmful merger transaction. The bill seeks to do so by requiring that the FTC use the same enforcement process as the DOJ. This proposed sweeping change undercuts the FTCs administrative litigation process for contested mergers or acquisitions and effectively removes the very core and functioning character of this agency. Moreover. reducing the FTCs independence directly conflicts with Congresss intent in creating this antitrust enforcement agency and policymaking body as distinct and independent shield from political and executive interference. As enforcers of Section 7 of the Clayton Act. both the FTC and the DOJ have the authority and responsibility to prohibit mergers and acquisitions that would "substantially lessen competition" or "tend to create a monopoly". Under this enforcement authority. these agencies serve to complement each other. and have developed over the years to specialize in particular industries and markets. Based upon historical experience and coordinated developments. the FTC serves to protect consumers and consumer spendinge.g.. healthcare. pharmaceuticals. professional services. food. energy. and certain hightech industries like computer technology and internet services. Whereas. the DOJ typically assumes a specialized focus on larger corporate industriese.g.. telecommunications. banks. railroads. and airlines. Thus. while the FTC and the DOJ have operated with a shared responsibility of enforcing federal antitrust laws. these two federal agencies are unique and each retain exclusive authority of certain conduct. Serving as joint enforcement agencies for over 100 years. the FTC and DOJ rely upon each other to coordinate agency jurisdiction and harmonized standards and practices.