As the FTC develops its Strategic Plan for 2026–2030, the agency has a rare chance to reset after years of mission drift. But as Norm Singleton writes in RealClearMarkets, the draft plan released in October misses the mark—ignoring statutory requirements and failing to address the central problem: the continued influence of Lina Khan-era antitrust.
Below are key excerpts from Singleton’s analysis.
The FTC Met One Legal Requirement—But Ignored Another
“The FTC may have satisfied their duties under the Government Performance and Results Act. However, as Alex Reinauer of the Competitive Enterprise Institute observed, the FTC did not meet the legal obligation under 2018’s Foundations for Evidence-Based Policymaking Act… This includes a list of which policies the agency plans to pursue.”
Rather than offering a transparent roadmap, the draft plan sidesteps the Biden-Khan regulatory legacy still embedded deep within the agency.
Restoring the FTC’s Mission Means Restoring Consumer Welfare
Singleton highlights a positive first step: the agency’s decision to reinsert the phrase “without unduly burdening legitimate business activity” into its mission statement—a standard stripped out under Lina Khan.
But that alone isn’t enough.
“Chair Andrew Ferguson must go further and officially restore the consumer welfare standard as the guiding principle of antitrust law.”
For nearly four decades—from Reagan through Trump—the consumer welfare standard ensured that antitrust focused on one thing: how business actions affect consumers. Khan and DOJ Antitrust head Jonathan Kanter replaced it with a vague “big is bad” mentality that empowers government intervention into nearly any merger or acquisition.
The Problem: Ferguson and Slater Are Still Using Khan’s Playbook
Even with new leadership at the FTC and DOJ Antitrust Division, the underlying policy structure remains unchanged:
“They are committed to a Khan/Kanter approach when it comes to ‘big tech.’ Under Ferguson and Slater, the government has pursued high-level antitrust cases against Amazon, Meta, and Alphabet.”
And critically:
“The desire to use Khan-like tactics… may explain why Ferguson and Slater are retaining the 2023 Revised Merger Guidelines.”
Keeping those guidelines keeps Khan’s worldview intact.
Withdraw the 2023 Merger Guidelines — And the HSR Overhaul
Singleton argues the FTC’s Strategic Plan should explicitly commit to undoing two major Khan-era policies:
- The 2023 Revised Merger Guidelines “Ferguson should amend the FTC’s Strategic Plan to include a statement of intent to reverse course and withdraw the 2023 guidelines; thus restoring the consumer welfare standard.”
- The expanded Hart-Scott-Rodino (HSR) form “According to the FTC’s own estimate… Khan’s proposed changes would increase the time it takes to complete the form by approximately 68 hours!”
A legal analysis from Vinson & Elkins confirms massive additional burden—from expanded document demands to new narrative reporting requirements.
A Missed Opportunity—But Not Too Late
“The requirement that the FTC release a strategic plan provides a (so far) missed opportunity for Ferguson to return to the consumer welfare standard.”
Singleton concludes with a clear charge: the FTC must use this moment to chart a new course—one that ends both Lina Khan’s progressive antitrust and its right-wing counterpart, “Khanservatism.”
