WASHINGTON, D.C. (WOWO) — U.S. Sen. Jim Banks of Indiana and U.S. Sen. Elizabeth Warren of Massachusetts have introduced a bipartisan resolution calling on the Federal Trade Commission to investigate alleged anticompetitive practices in the fire truck manufacturing industry. The resolution dir ects the FTC to examine claims of price fixing, price gouging, monopolization, serial acquisitions and other possible violations of federal antitrust laws that lawmakers say have driven up costs and delayed deliveries of fire trucks nationwide. “These firetruck companies have become a monopoly,” Banks said. “You have one company that has bought up all the other companies. So, when they become a monopoly, they can jack up the prices and they can delay delivery.” According to the resolution, concerns have been raised by firefighters, local officials and municipalities in Indiana and several other states over rising costs and long wait times for new fire trucks. Lawmakers say three manufacturers control an estimated 70% to 80% of the U.S. fire truck market. Since 2013, the price of a new pumper truck has increased from about $500,000 to nearly $1 million, while ladder truck prices have risen from roughly $900,000 to nearly $2 million. Delivery times have also grown from one to two years to as long as four and a half years. Carmel Mayor Sue Finkam told Banks firetrucks in Carmel are being delayed 18 months, affecting public safety. “Public safety is measured in minutes, not years,” Finkam said. “The faster our first responders reach someone in need, the better the outcome. Delays in getting the equipment they need put lives and property at risk.” If approved, the resolution would require the FTC to submit a report to Congress within one year outlining the extent of any anticompetitive practices in the industry, their impact on fire departments and local governments, and recommendations for legislative or other actions to restore competition. The FTC would also be required to notify Congress if manufacturers fail to cooperate with the investigation. The post Bipartisan resolution introduced calling for FTC investigation on the firetruck manufacturing industry appeared first on WOWO News/Talk 92.3 FM and 1190 AM. ...read more read less