High Prices and Stifled Jobs: FTC Takes Bold Action to Slash Regulations Hurting Americans

The Federal Trade Commission and the Department of Justice have taken a bold stand. Their recent joint letter, driven by President Trump’s Executive Order on Reducing Anticompetitive Regulatory Barriers, orders federal agencies to pinpoint regulations that smother competition, entrepreneurship, and innovation. This move signals a fierce commitment to revitalizing America’s economy.

Businesses, especially small ones, face a daily grind of navigating rules that protect entrenched players and drive up costs. Led by FTC Chairman Andrew Ferguson and Assistant Attorney General Abigail Slater, this initiative demands agencies justify or eliminate these barriers. The goal is clear: unleash the potential of American ingenuity.

Everyday entrepreneurs feel the weight of this problem. A startup with a game-changing idea can be stalled by compliance hurdles before it even begins. The government’s push to clear these obstacles is a lifeline for innovators and a promise to restore dynamic markets.

Public frustration is evident. The FTC’s Request for Information has opened the floodgates for Americans to voice their concerns about rules that favor big corporations and stifle competition. The urgency to act is undeniable as global rivals race ahead unburdened by similar constraints.

Regulations drain businesses and consumers alike. Annual compliance costs average $277,000 per firm, with the total burden reaching $3.1 trillion in 2022, roughly 12 percent of GDP. These funds could fuel hiring, innovation, or price cuts but instead get lost in bureaucratic mazes.

History offers compelling evidence for reform. The 1978 Airline Deregulation Act lowered fares and expanded choices. The 1982 AT&T breakup ignited a telecom boom. Trump’s first-term policies, including ‘two-for-one’ and ‘10-for-one’ executive orders, cut regulatory costs from $492 billion under Obama to $38 billion. Spectrum auctions raised $230 billion while spurring wireless advancements.

Previous administrations, by contrast, piled on rules that raised costs at 6.5 percent of GDP annually. Supporters claimed these protected consumers, but the reality was higher prices and fewer options. Deregulation, when done right, targets inefficiencies while preserving essential oversight.

Some argue deregulation prioritizes corporations over consumers, citing relaxed EPA climate rules or labor protections as risks to public welfare. Yet these concerns overlook the precision of modern antitrust efforts, which tackle monopolies and unfair practices without strangling economic growth.

Anticompetitive rules hit close to home. They inflate prices for essentials like food and fuel, limit job opportunities by blocking new businesses, and delay innovations that could improve lives, from affordable healthcare to faster internet. This initiative directly addresses those challenges.

Executive Order 14267 sets a firm deadline: by mid-June, agencies must list problematic regulations and propose fixes. The DOJ’s Anticompetitive Regulations Task Force is collecting public input through May, ensuring ordinary citizens shape the outcome. This approach reflects government responsiveness at its best.

Critics warn that easing regulations could weaken safety or environmental standards. However, effective oversight doesn’t demand excessive rules. The FTC’s ‘America First Antitrust’ strategy balances robust enforcement against monopolies with a free-market ethos, proving you can protect consumers without stifling progress.

Clinging to heavy regulation has proven costly. In tech, overregulation risks slowing breakthroughs. In labor markets, restrictive non-compete agreements trap workers. Removing these barriers promises more jobs, better products, and lower costs, building an economy that works for all.

The FTC and DOJ’s effort is a pivotal moment. By compiling agency reports and public feedback, they will deliver a clear plan to the Office of Management and Budget to eliminate harmful regulations. This comprehensive strategy aims to restore America’s competitive edge.

Past successes light the way. Reagan’s cost-benefit requirements in the 1980s fueled economic growth. Trump’s first-term reforms showed deregulation can deliver results without compromising accountability. Today’s campaign builds on those victories, prioritizing markets that serve everyone.

Time is critical. Global competitors are innovating rapidly, unhindered by our regulatory burdens. The FTC and DOJ offer a path to break free, but it requires unwavering commitment. Americans deserve an economy that rewards effort and creativity, not one mired in red tape.

This is about defining America’s future. We can trust our people to innovate and compete, or we can let bureaucracy hold us back. The evidence supports cutting regulations to unleash prosperity. Let’s seize this opportunity and make America’s economy the envy of the world.