#SubCMT Works to Put Innovation First

Press Release

The Subcommittee on Commerce, Manufacturing, and Trade Thursday advanced eleven legislative initiatives consolidated into four bills that will promote innovation and job growth through targeted reforms to the Federal Trade Commission (FTC). Drawing on insights from the Disrupter Series, the subcommittee's yearlong examination of groundbreaking technologies, the bills aim to reshape the agency's regulatory environment to welcome a new generation of dynamic 21st century businesses.

"The benefits that result from innovation speak for themselves--and the corresponding costs of preventing them are enormous. Consumer protection authorities must adopt an approach that refrains from snatching those benefits from consumers' hands before they can be realized," write #SubCMT Chairman Michael C. Burgess, M.D. (R-TX) and Vice Chairman Leonard Lance (R-NJ) today in The Hill. "The bills our members are proposing are in the spirit of current consumer protection law, but make some perfecting adjustments to ensure that job creating innovation can continue."

Source