Federal Trade Commission Chairman Andrew N. Ferguson presented before the House Appropriations Committee’s Financial Services and General Government Subcommittee to discuss the agency's operations for Fiscal Year 2025 and priorities for Fiscal Year 2026. He emphasized the significant value the FTC provides to U.S. taxpayers, highlighting that in FY 2024, the agency returned over $333 million to consumers, which is nearly two-thirds of its annual budget.

During his testimony, Ferguson underscored the FTC’s commitment to efficiently utilizing agency resources while aligning with President Trump’s goal of reducing the federal government’s size. The agency has recently downsized its workforce and cut costs, all while continuing to focus on its core priorities, which include protecting Americans from scams, fraud, and other unfair practices, as well as addressing harmful collusion and market consolidation.

The FTC is actively working to combat illegal telemarketing, fraud targeting vulnerable populations, deceptive billing practices, unlawful ticket sales, and data security violations. On the competition front, the agency aims to address the root causes of anticompetitive behavior and mitigate significant market harms, particularly those stemming from dominant firms that impact a large number of Americans. The Commission unanimously approved the testimony with a vote of 3-0.