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US: FTC may get budget boost as tech probe continues

By  |  September 25, 2019

A House of Representatives budget panel has proposed raising the budget of the Federal Trade Commission (FTC) by $40 million, a more than 10% rise at a time when the antitrust and consumer protection agency has undertaken a probe of Facebook reported Reuters.

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    The FTC, whose budget was $310 million this fiscal year, divides its antitrust enforcement work with the Justice Department.

    The agency has said it was conducting an antitrust investigation of Facebook, while sources had told Reuters in June it was gearing up to investigate Amazon.com and Facebook over possible misuse of market power.

    The extra funds proposed by a subcommittee of the House Appropriations Committee would mean the FTC could add about 90 staff, allowing the agency to double the size of its technology task force, Chairman Joe Simons told the panel at a hearing.

    In its big tech probes, Simons said the task force would look at past mergers and any allegations of exclusionary conduct, where a dominant firm tries to prevent a smaller rival from gaining market share.

    Full Content: Reuters

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