FTC Chairman Andrew Ferguson’s testimony highlights the agency’s success in returning $333 million to consumers while reducing government costs in alignment with Trump administration priorities.
At a Glance
- Chairman Ferguson testified before the House Appropriations Subcommittee on Financial Services and General Government about FTC’s budget and priorities
- The FTC returned over $333 million to consumers in FY 2024, representing nearly two-thirds of its annual budget
- Agency is reducing workforce size and cutting costs while maintaining consumer protection priorities
- The Commission unanimously approved (3-0) the testimony addressing fiscal years 2025 operations and 2026 priorities
- Key focus areas include combating telemarketing fraud, deceptive billing, ticket scams, and anticompetitive conduct
Budget Efficiency and Consumer Protection Success
Federal Trade Commission Chairman Andrew N. Ferguson appeared before the House Appropriations Subcommittee on Financial Services and General Government on Thursday, May 15, 2025, to present the agency’s operational priorities and budget requirements. The oversight hearing, conducted in Room 2362-B of the Rayburn House Office Building, provided a platform for Ferguson to highlight the FTC’s fiscal accomplishments and future plans. Central to his testimony was the impressive statistic that the agency returned over $333 million to consumers in the 2024 fiscal year.
This significant consumer restitution represents nearly two-thirds of the FTC’s annual budget, demonstrating the agency’s commitment to fiscal responsibility while fulfilling its mission to protect American consumers. Ferguson emphasized that this consumer-focused approach aligns with President Trump’s broader goal of creating a more efficient federal government that delivers tangible results for citizens while reducing unnecessary bureaucracy and spending.
Strategic Downsizing While Maintaining Effectiveness
Chairman Ferguson detailed the commission’s efforts to streamline operations without compromising its core functions of consumer protection and competition enforcement. According to his testimony, the FTC has successfully reduced its workforce size and implemented cost-cutting measures across departments while maintaining focus on priority areas. This approach reflects a careful balance between fiscal conservatism and ensuring the agency has sufficient resources to fulfill its statutory obligations to American consumers and businesses.
The testimony, which received unanimous 3-0 approval from the Commission, outlined several key consumer protection initiatives currently underway. These include targeted efforts to combat illegal telemarketing, fraud schemes targeting older Americans and military servicemembers, deceptive billing practices, unlawful ticket selling practices, and data security and privacy concerns. On the competition front, Ferguson highlighted the agency’s continued focus on anticompetitive conduct and addressing significant market harms, particularly those perpetrated by dominant firms.
Congressional Questioning on Specific Concerns
During the hearing, several committee members raised specific concerns related to the FTC’s jurisdiction. Representative Sanford Bishop questioned Ferguson about the agency’s approach to addressing high prescription drug costs, a matter of significant concern for many constituents. The exchange highlighted the intersection between the FTC’s competition enforcement role and its potential impact on pharmaceutical pricing practices that affect millions of American households.
Congressman Glenn Ivey also pressed Ferguson on certain FTC enforcement actions, raising questions about the agency’s regulatory approach and its impact on businesses. Similarly, Representative Womack engaged Ferguson on the commission’s methodology for identifying enforcement priorities and allocating resources. These exchanges underscored the ongoing tension between aggressive consumer protection and the need to avoid overregulation that could stifle legitimate business activities.
Looking Ahead: FY 2025 and 2026 Priorities
Looking toward fiscal years 2025 and 2026, Chairman Ferguson outlined the FTC’s continued commitment to its three-pronged approach: promoting fair competition, protecting consumers from fraud and deception, and educating the public about scams and fraudulent practices. He stressed that appropriate staffing levels remain essential for the agency to maintain its performance standards, even as it works to become more streamlined in accordance with administration directives.
The hearing represents a critical juncture for the FTC as it navigates changing political priorities while fulfilling its long-standing mission of protecting American consumers and fostering competitive markets. As businesses continue to develop new technologies and marketing methods, Ferguson emphasized that the commission must remain vigilant and adaptable to address emerging threats to consumer welfare and market competition, while doing so with fiscal responsibility and accountability to taxpayers.
