Warren, Banks Call for FTC Investigation of Fire Truck Market Concentration

Sens. Elizabeth Warren, D-Mass., and Jim Banks, R-Ind., along with Reps. Becca Balint, D-Vt., and Ben Cline, R-Va., introduced a joint resolution Tuesday directing the Federal Trade Commission to investigate whether consolidation in the industry has violated federal antitrust laws. The resolution would require the agency to report its findings to Congress within one year.

The lawmakers contend that two decades of mergers and acquisitions have concentrated the industry in the hands of three major manufacturers that now control most of the U.S. market. They argue that reduced competition has contributed to fire truck prices more than doubling over the past decade and delivery times stretching as long as five years in some cases.

“When giant corporations and Wall Street investors buy up all the fire truck manufacturers, it’s a threat to public safety,” Warren said in a statement accompanying the resolution.

The proposal comes amid growing bipartisan scrutiny of so-called “roll-up” strategies, in which private equity firms or large corporations acquire multiple smaller competitors in a fragmented industry and consolidate them into larger enterprises. Antitrust experts have increasingly warned that such serial acquisitions can reduce competition while often avoiding the regulatory scrutiny associated with larger mergers.

The FTC and Justice Department’s merger guidelines issued in recent years specifically highlighted serial acquisitions as a potential antitrust concern, noting that regulators may evaluate the cumulative impact of multiple deals rather than considering each transaction in isolation. Critics argue that the fire truck industry has become a prominent example of the risks posed by unchecked consolidation.

According to lawmakers, manufacturers have allegedly closed production facilities despite rising demand, contributing to equipment shortages and leaving many local fire departments reliant on aging vehicles. Fire officials have warned that delayed deliveries and rising costs could compromise emergency response capabilities and strain municipal budgets.

The resolution would represent a significant use of congressional authority. According to Warren’s office, Congress has not invoked its power to direct the FTC to conduct an antitrust investigation through a joint resolution since the Great Depression era. The proposed inquiry would examine potential price fixing, monopolization, price gouging and other anticompetitive practices in the industry.

Manufacturers have disputed allegations that market concentration is responsible for shortages and price increases, arguing instead that post-pandemic supply chain disruptions, labor shortages and a surge in demand have driven production backlogs. Industry executives have said they have invested in expanding manufacturing capacity and reducing delays.

The push for an investigation reflects a broader political shift in Washington, where concern over market concentration has increasingly united lawmakers across party lines. While antitrust debates have often focused on technology giants and healthcare companies, policymakers have increasingly turned their attention to consolidation in less visible sectors, including veterinary services, housing and emergency equipment manufacturing.

Source: Warren