Four Senate Republican have written to party leadership informing them of their intent to block a recent Senate spending bill that contained a provision to ban pay for delay deals. The Department of Justice (DOJ) and the Federal Trade Commision (FTC) are against pay for delay deals - calling them anti-competitive and a bad deal for consumers.
But, pay for delay is OK in these 4 Senators' books. They say the bill wil give "excessive power" to the FTC which in this case is bad. Excessive power belongs only in the hands of 4 Senators of course.
The Congressional Budget Office (CBO) on the other has estimated pay for delay deals will cost the federal government (i.e. tax payers) $2.6 B over the next 10 years. You know the drill - a billion here and a billion there and pretty soon you're talking real money.
Posted by Bruce Lehr September 21st 2010.