WASHINGTON, DC – Today, The Tech Oversight Project issued the following statement on President Joe Biden’s fiscal year 2025 budget request. The Budget proposes $288 million for the Department of Justice’s Antitrust Division, which is a 56 percent increase since 2021, and $535 million for the Federal Trade Commission, which is a 52 percent increase since 2021, to strengthen antitrust enforcement efforts to promote vigorous marketplace competition and reduce costs and raise wages for the American people.
Additionally, the Administration has committed to working with Congress to undo recently passed funding language that rolled back the bipartisan Merger Filing Fee Modernization Act (spearheaded by Senator Amy Klobuchar), which President Biden signed into law in December 2022, and ensuring that merger filing fees become mandatory to the Department of Justice Antitrust Division.
“By calling for increased funding for the agencies tasked with keeping prices low and markets competitive, President Biden is sending the message with his FY 2025 budget that this administration will tackle the most powerful companies that are driving higher prices and less competition – not just in tech but across our entire economy,” said Sacha Haworth, Executive Director of the Tech Oversight Project. “In addition, while the FY 2025 budget request contained unfortunate language calling for Congress to divert some merger filing fees away from the division, we commend the White House for indicating that it is walking away from that position and instead will stand by the spirit of the Merger Filing Fee Modernization Act – a signature achievement he signed into law to take on Big Tech. We look forward to fighting shoulder to shoulder with the Administration to make sure federal competition enforcers have every tool they need to deliver for the American people.”