On the recordNovember 8, 2023
Mr. Chairman, this amendment would prohibit funds from being made available to the FTC to enforce the suspension of early terminations to merger filings made under the Hart-Scott-Rodino Act. The FTC is authorized to terminate this waiting period early upon the request of the parties or on their own. After determining that the transaction does not pose significant competitive concerns, the ruling will be made. In February 2021, the early termination process was ``temporarily'' suspended due to the impact of COVID, and the suspension remains in place nearly 3 years later. Prior to the suspension, early termination was granted in approximately half of all reported transactions. The world obviously has moved on from COVID, and it is time for the FTC to move on, as well. Mr. Chairman, I urge my colleagues to vote ``aye'' on the amendment, and I reserve the balance of my time.
