BALINT, WARREN, BANKS, AND CLINE FILE BIPARTISAN, BICAMERAL RESOLUTION DIRECTING THE FTC TO INVESTIGATE CORPORATE ROLL-UPS OF FIRETRUCK MANUFACTURERS

Washington, July 21 -- Rep. Becca Balint issued the following press release:

Today, U.S. Representatives Becca Balint (D-Vt.) and Ben Cline (R-Va.), along with Senators Elizabeth Warren (D-Mass.) and Jim Banks (R-Ind.), filed a bipartisan, bicameral resolution directing the FTC to investigate serial acquisitions of firetruck manufacturers.

Following two decades ofconsolidationby private equity firms and larger manufacturers, a vast majority of the fire truck manufacturing industry is now controlled by just three companies. Since then:

Prices have skyrocketed.Fire truck prices havedoubledover the last decade, far outpacing inflation for heavy-duty truck manufacturing over thattime period. Manufacturers have alsoexploitedtheir market power...