FTC’s Unjustified Attack on American Tech Companies Threatens US Economic and National Security

The Federal Trade Commission (FTC) under Chairwoman Lina Khan is engaged in a relentless campaign to suppress American tech companies in favor of international competitors. This campaign involves colluding with foreign governments to impose harsh regulations and penalties on American businesses, which has detrimental impacts on US economic and national security. Despite citing past regulatory actions as justification for her policies, Khan ignores the unique nature of digital technology innovation. She falsely claims that large tech companies stifle innovation, when in reality they are key drivers of progress and set safety and privacy standards. The FTC’s actions also fail to address national security concerns and could harm the US in the strategic competition with China. Over-regulating artificial intelligence (AI) could hinder US AI providers and allow China to overtake the US in this critical domain.

The Intertwined Threats: Our Democracy and the Economy

President Biden’s focus on safeguarding democracy while addressing economic concerns is necessary but insufficient. Our outdated political system impedes delivering the policies Americans desire, such as affordable childcare, education, and housing, exacerbating financial insecurity despite a strong economy. This disconnect between the desired economy and the current political system demands urgent attention. Biden’s second-term agenda should prioritize reforms to the federal courts, Senate, and electoral system to ensure representation aligns with the will of the people. By strengthening our democracy, we can create the foundation for a fairer and more prosperous economy for all.

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