Fitzgerald Urges FTC to Stick to Congressional Intent on Foreign Merger Subsidies
WASHINGTON, DC – Today, Congressman Scott Fitzgerald (WI-05) issued the following statement on the Federal Trade Commission (FTC) and U.S. Department of Justice (DOJ) announcement proposing changes to the premerger notification form:
BACKGROUND
Congressman Fitzgerald introduced the Foreign Merger Subsidy Disclosure Act in the 117th Congress, which passed the House as an amendment to the America COMPETES Act and was eventually signed into law as part of a broader package. The purpose of the bill is to expose China’s use of state-owned enterprises in America to hamper competition. Today, the FTC and DOJ announced the first significant changes to the premerger notification form in 45 years. These changes include implementation of the Foreign Merger Subsidy Disclosure Act as stipulated in the bill, which requires merging companies to disclose involvement from state-owned enterprises.
NOTE: This press release was submitted to Urban Milwaukee and was not written by an Urban Milwaukee writer. While it is believed to be reliable, Urban Milwaukee does not guarantee its accuracy or completeness.
Mentioned in This Press Release
Recent Press Releases by U.S. Rep. Scott Fitzgerald
Interesting. . . If you really want to make a difference – why not a tariff on imports from China. The money could be used to pay down the national debt.
I wish that there was more than just a press release. I can’t help but find the lack of interest in what is happening in Washington and Madison a genuine concern. Spending billions (trillions) of our dollars, and there is little or no reporting. I seem to remember when the newspapers published the voting records of our representatives in Congress.
I thought our elected representatives were there to ensure that there was accountability. And, the newspapers – news reporting – helped. How can democracy work when our elected officials don’t do their job and when the newspapers report nothing or are slanted one way or the other?
I spent a few years in the US Army, and to much waste and poor decision-making with no accountability. Look at the Fat Leonard situation – Admirals and Captains receive a letter of censor and still receive full retirement. The failure in Afghanistan with Brigadier General Joseph M. Reheiser – Afghan G222/C-27 program with over $500 million wasted after the contract award, the General is employed as a vice-president by the company refurbing the airplanes. Then there is Colonel Norbert Vergez, convicted in federal court, and he’s receiving full retirement pay. There is a cost in lives, money, and the defense of the United States.
We’re spending trillions on national defense – yet after a Senate Hearing led by Senator Johnson on privatized military housing, nothing. The Senator even comments that it appears crimes are or were committed and nothing. Senator Baldwin, Representative Fitzgerald – nothing – where is the accountability?
Is there a solution? Representative Fitzgerald is all about accountability – listen to what he “tells” his constituents. The problem is that when it comes to actually doing something – what does Representative Fitzgerald do?