Waukesha Times

Congressman Scott Fitzgerald has introduced a Congressional Review Act resolution to challenge the Federal Trade Commission's (FTC) recent rule changes regarding the Premerger Notification Form under the Hart-Scott-Rodino (HSR) Act. The new rule, which took effect on February 10, 2025, modifies premerger notification and reporting requirements for certain mergers and acquisitions.

"When Congress passed the Merger Filing Fee Modernization Act, it did so with one bipartisan goal; to lower the filing burden on small businesses. Unfortunately, this rule is in clear departure from Congressional intent, benefitting large corporations relative to small businesses," stated Congressman Fitzgerald. He emphasized the need for Republicans to revisit and realign the rule with both Congressional and statutory intentions.

The resolution aims to nullify the FTC's final rule titled "Premerger Notification; Reporting and Waiting Period Requirements." This rule was jointly finalized by the FTC and Department of Justice in November 2024. It introduces several new requirements for merging parties as part of the Merger Filing Fee Modernization Act of 2022.

Fitzgerald expressed his intention to collaborate with the Trump Administration to make targeted amendments that ensure foreign state-owned enterprises do not distort U.S. markets.