LAW-News-FTCbillapproved-0624

The House Appropriations Committee met Thursday, June 13, and approved the FY 2025 Financial Services and General Government Appropriations Act with a vote of 33 to 24.

The FY25 FSGG bill is expected to be considered by the full House later this summer.

Among a wide range of issues, the Committee provided the Federal Trade Commission $146.3 million less than requested and attached a policy rider specifically targeting the Vehicle Shopping Rule, stating that it “Prohibits the FTC from finalizing, implementing, or enforcing the Combating Auto Retail Scams (CARS) rulemaking.”

Financial Services and General Government Subcommittee Chairman David Joyce (R-OH) said the bill’s primarily mission was to protect the integrity of America’s financial and judicial systems.

“In order to fulfill that mission, this bill makes cuts to prevent agency overreach by prohibiting funds for dozens of regulating actions such as blocking the FCC from regulating broadband rates, the FTC from controlling how everyday Americans purchase a car, and the SEC from collecting and surveilling transactions of everyone who invests in the stock market. With these key priorities in the bill, I am proud we were able to advance it out of Committee and to the House floor.”

The Center for Automotive Research recently conducted a survey and created an updated analysis focused on the financial impact to both dealers and customers if the current proposed FTC Vehicle Shopping Rule were to be passed. Here are some key takeaways:

The full report can be found here.

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