Longview Chamber of Commerce joins noncompete lawsuit

LONGVIEW, Texas ( KETK ) – The Longview Chamber of Commerce has joined with the US Chamber of Commerce in challenging a recent Federal Trade Commission rule banning noncompete agreements.

“We stand firm in our commitment to safeguarding the interests of businesses and employees alike, and the FTC’s recent power grab threatens to disrupt countless existing agreements, hinder businesses’ ability to protect confidential information, and bring serious harm to competition. The FTC lacks the statutory authority to issue such broad regulations, and the Commission’s noncompete rule represents an arbitrary exercise of bureaucratic power. We urge the Court to review and set aside the rule, as it is both unlawful and will result in cascading adverse impacts on businesses and workers in Texas and nationwide.”

Longview Chamber of Commerce President and CEO Kelly Hall and Texas Association of Business President and CEO Glenn Hamer

FTC Chair Lina M. Khan said that this ruling will help give more freedom to American workers and business owners.

“Noncompete clauses keep wages low, suppress new ideas, and rob the American economy of dynamism, including from the more than 8,500 new startups that would be created a year once noncompetes are banned,” said FTC Chair Lina M. Khan. “The FTC’s final rule to ban noncompetes will ensure Americans have the freedom to pursue a new job, start a new business, or bring a new idea to market.”

The FTC said that they estimate that this ban will make the country’s rate of new business formation grow by 2.7% a year and that the average worker’s wages may increase by up to $524 per year.

To read the full challenge to the FTC’s ruling click here .

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