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Biden/Harris Legislative/Policy Discussions - Now with a Republican House starting 2023


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  • 2 weeks later...

Corporate America seeks to unravel FTC noncompete ban

 

The Federal Trade Commission’s (FTC) proposed ban on noncompete agreements has sparked a lobbying blitz from corporate America to weaken the rule or block it altogether.

 

The FTC estimates that one in five U.S. workers are bound by noncompete agreements, which limit or prohibit workers from taking a job at a competitor or starting their own business. 

 

These “widespread and often exploitative” contracts cost workers at least $250 billion in wages annually by reducing their earning opportunities, according to FTC Chairwoman Lina Khan, a Biden appointee who has sought to crack down on anti-competitive practices. 

 

But corporate lobbying groups are pushing back on the rule, which they say would endanger trade secrets and hurt their ability to retain workers. They’re threatening to sue the FTC if it doesn’t rescind the proposal, arguing that the agency doesn’t have the authority to ban noncompetes. 

 

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On 4/27/2023 at 11:48 AM, The Evil Genius said:

It's sad that Feinstein's storied career is going to be heavily tarnished by her prolonged absence.

 

She needs to step down.

 

Immediately.

 

 

 

****ing us over because she won't let go of power, same as RBG. What a way to **** on your legacy right at the end.

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