Joyce Remarks at Oversight Hearing on The U.S. Federal Trade Commission

I would like to thank Chairman Ferguson for being here today and for his leadership over the last several months. 

The Federal Trade Commission plays an important role in promoting marketplace competition and protecting consumers. Ensuring robust competition is vital to fostering economic growth while also lowering costs for all Americans.

Over the last several years, under previous leadership, the FTC routinely strayed from its core mission and stretched the limits of its statutory authorities. I am encouraged by the Commission’s renewed focus and direction under Chairman Ferguson’s leadership.

Advances in technology and the emergence of artificial intelligence have presented new opportunities and challenges for businesses and consumers alike. 

American innovators are at the forefront of these major technological advances. While regulators have a responsibility to maintain common-sense guardrails, they should do so in a way that does not stifle innovation and force good-paying jobs overseas.

The FTC’s spending level for Fiscal Year 2025 was held flat from FY 2024 at $425.7 million. Despite flat funding for the last two fiscal years, the Commission faces rising costs for expert witnesses, infrastructure, and technology. 

Furthermore, the recent passage of the Take It Down Act will require the FTC to deploy additional resources to crack down on the publication of non-consensual intimate images, including those generated by AI. 

I look forward to hearing more about the Commission’s implementation of this important piece of legislation and the additional resources that will be required.

Chairman Ferguson, you have described the Federal Trade Commission’s role as a “cop on the beat.” Like police officers, the Commission has a responsibility to enforce the law fairly without bias or prejudice. The American people deserve an FTC that sticks to its core mission of promoting competition and preventing fraud in the marketplace. Providing regulatory certainty and predictability to the private sector will spur on economic growth and benefit all Americans through more affordable prices. 

I look forward to hearing from Chairman Ferguson about his vision for the Commission and the resources that will be required to execute on the FTC’s mission.

I yield back.