Business groups objecting to new rules that block new non-compete agreements say that non-compete agreements are need Protect intellectual property and criticize the FTC for regulatory overreach.
The chamber, Business Roundtable, Texas Business Association, and Longview Chamber of Commerce filed suit against the FTC in the U.S. District Court for the Eastern District of Texas.
“These agreements benefit both employers and workers. Employers protect their investments in employees and confidential information, and workers receive enhanced training, access to more information, higher benefit from the opportunity to negotiate wages,” the complaint states.
The move comes after the Chamber of Commerce recently sued the Consumer Financial Protection Bureau to block the new rules. delay credit card limit The largest issuers charge an $8 fee, which is a fraction of the average late fee of $32.
The pro-corporate lobbying giant also accused the agency of overstepping its authority when it issued the rule.
It remains to be seen whether these cases will be resolved before the 2024 presidential election. sharp contrast The relationship between President Biden and former President Trump, who is considered to be the Republican candidate.
The FTC states that a non-compete can: 30 million peopleapproximately 18 percent of the U.S. workforce is looking to change jobs within their industry to earn more.
The Hill's Taylor Giorno has more here.
