Hon. Michael G. Oxley: “Mr. Speaker, H.R. 3553, the Federal Trade Commission Act of 1996, is a straight 2-year reauthorization of the agency.…”

“Mr. Speaker, H.R. 3553, the Federal Trade Commission Act of 1996, is a straight 2-year reauthorization of the agency. This legislation, cosponsored by my distinguished subcommittee ranking member, Mr. Manton, authorizes appropriations of $107 million in fiscal year 1997 and $111 million in fiscal year 1998 for the operations of the Federal Trade Commission. These amounts reflect a current services budget for the agency and include no funding for an expansion of activities or personnel. Mr. Speaker, I have often taken to this floor to defend the modern FTC. Shortly before the recess, my subcommittee spent several hours with the Federal Trade Commission discussing their performance over the past few years and their plans for the future. I am pleased to say that under the leadership of FTC Chairman Pitofsky, and former Chairwoman Steiger, this agency has come a long way toward rehabilitating its tarnished image and I feel justified in coming to its defense. The agency today is one which is constantly reviewing old orders, rules, and guidance in an effort to eliminate confusing and outdated regulations. The agency is about half the size it was during the late 1970's, but now is effectively reviewing an unprecedented number of mergers. In short, this agency is doing more with less, and doing it smarter.”