H.R. 3843House117th Congress (2021-2023)Passed House

Merger Filing Fee Modernization Act of 2022

Sponsored by Joe NeguseRep. Joe Neguse (D-CO)
Introduced June 11, 2021

AI-Generated Summary

Updated February 8, 2026 at 4:11 AM UTC

The Merger Filing Fee Modernization Act of 2022 updates the fees companies pay when they notify the FTC and DOJ of a proposed merger, ties future fee changes to inflation, and adds new reporting and disclosure requirements. It also requires merger filings to reveal any subsidies from foreign entities that could threaten U.S. interests and allows state antitrust agencies to bring actions in federal court.

Key Provisions

  • Increases the pre‑merger filing fee schedule, adding higher tiers up to $2.25 million for the largest transactions.
  • Sets automatic annual fee adjustments based on the Consumer Price Index, rounded to the nearest $5,000, unless the increase is under 1%.
  • Requires the FTC and DOJ to issue a joint annual report from 2023‑2027 on fee revenues, agency costs, and any 3‑to‑2 vote decisions.
  • Mandates that merger notifications include information about subsidies from foreign "entities of concern," and gives antitrust regulators authority to request detailed disclosures.
  • Amends venue rules so state antitrust agencies may sue in federal court alongside the United States.

Legislative Activity

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19 earlier actions
SenateIntro Referral Latest Action

Received in the Senate.

October 11, 2022

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HouseIntro Referral

Introduced in House

June 11, 2021

HouseIntro Referral

Referred to the Committee on the Judiciary, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

June 11, 2021

HouseCommittee

Referred to the Subcommittee on Consumer Protection and Commerce.

June 14, 2021

HouseCommittee

Committee Consideration and Mark-up Session Held.

June 23, 2021

HouseCommittee

Committee Consideration and Mark-up Session Held.

June 24, 2021

HouseCommittee

Ordered to be Reported (Amended).

June 24, 2021

HouseCommittee

Reported (Amended) by the Committee on Judiciary. H. Rept. 117-493, Part I.

September 26, 2022

HouseCommittee

Committee on Energy and Commerce discharged.

September 26, 2022

HouseCalendars

Placed on the Union Calendar, Calendar No. 375.

September 26, 2022

HouseFloor

Rules Committee Resolution H. Res. 1396 Reported to House. Rule provides for consideration of H.R. 3843, H.R. 7780 and S. 3969. Resolution provides for one hour of general debate on each bill and one motion to recommit on H.R. 7780 and H.R. 3843 and a motion to commit S. 3969.

September 28, 2022 • 12:02 PM

HouseFloor

Considered under the provisions of rule H. Res. 1396. (consideration: CR H8252-8264, H8268-8269; text: CR H8252-8253)

September 29, 2022 • 12:25 PM

HouseFloor

Rule provides for consideration of H.R. 3843, H.R. 7780 and S. 3969. Resolution provides for one hour of general debate on each bill and one motion to recommit on H.R. 7780 and H.R. 3843 and a motion to commit S. 3969.

September 29, 2022 • 12:25 PM

HouseFloor

DEBATE - The House proceeded with one hour of debate on H.R. 3843.

September 29, 2022 • 12:26 PM

HouseFloor

The previous question was ordered pursuant to the rule.

September 29, 2022 • 1:31 PM

HouseFloor

POSTPONED PROCEEDINGS - At conclusion of debate on H.R. 3843, the Chair put the question on passage of the bill and by voice vote announced the ayes had prevailed. Mr. Jordan demanded the yeas and nays and the Chair postponed further proceedings until a time to be announced.

September 29, 2022 • 1:32 PM

HouseFloor

Considered as unfinished business. (consideration: CR H8252-8264)

September 29, 2022 • 2:59 PM

HouseFloor

Passed/agreed to in House: On passage Passed by the Yeas and Nays: 242 - 184 (Roll no. 460).

September 29, 2022 • 3:09 PM

HouseFloor

On passage Passed by the Yeas and Nays: 242 - 184 (Roll no. 460). (text: CR H8252-8253)

September 29, 2022 • 3:09 PM

HouseFloor

Motion to reconsider laid on the table Agreed to without objection.

September 29, 2022 • 3:09 PM

SenateIntro Referral

Received in the Senate.

October 11, 2022

Floor Debate

23 members

What members said about H.R. 3843 on the floor

15 Republicans8 Democrats
Mark DeSaulnier
Rep. Mark DeSaulnierD-CA-11 · Sep 28, 2022

Mr. Speaker, by direction of the Committee on Rules, I call up House Resolution 1396 and ask for its immediate consideration. Mr. Speaker, for the purpose of debate only, I yield the customary 30…

Zoe Lofgren
Rep. Zoe LofgrenD-CA-19 · Sep 28, 2022

Mr. Speaker, today, I reluctantly rise in opposition to this rule and will vote ``no.'' I am a supporter of all three bills covered by this rule as they were originally introduced. I am even the…

Jerrold Nadler
Rep. Jerrold NadlerD-NY-10 · Sep 29, 2022

Mr. Speaker, pursuant to House Resolution 1396, I call up the bill (H.R. 3843) to promote antitrust enforcement and protect competition through adjusting premerger filing fees, and increasing…

David N. Cicilline
Rep. David N. CicillineD-RI-1 · Sep 29, 2022

Mr. Speaker, I thank the chairman for yielding. H.R. 3843 is a modest yet critical first step to modernizing the antitrust laws. It generates revenue; it makes foreign adversarial interests in…

Jim Jordan
Rep. Jim JordanR-OH-4 · Sep 29, 2022

Mr. Speaker, I yield myself such time as I may consume. Mr. Speaker, I strongly urge my colleagues to vote ``no.'' While parts of this bill have some support, the package before us today does nothing…

Show 8 more
Cliff Bentz
Rep. Cliff BentzR-OR-2 · Sep 29, 2022

Mr. Speaker, I include in the Record an article titled, ``Lina Khan's Unfair and Deceptive Approach to Antitrust.'' [From U.S. Chamber of Commerce, Sept. 20, 2022] Lina Khan's Unfair and Deceptive…

Janice D. Schakowsky
Rep. Janice D. SchakowskyD-IL-9 · Sep 29, 2022

Mr. Chairman, Americans are tired of monopolies that saddle them with less choices and higher prices. The Federal Trade Commission and the Department of Justice must have the resources that they need…

Michelle Fischbach
Rep. Michelle FischbachR-MN-7 · Sep 28, 2022

Mr. Speaker, I thank the gentleman from California for yielding me the customary 30 minutes, and I yield myself such time as I may consume. We are here to debate the rule providing for consideration…

Rand Paul
Sen. Rand PaulR-KY · Dec 8, 2022

Mr. President, in reserving the right to object, the proponents of antitrust laws are famously zealous in their desire to eradicate the curse of bigness. To them, big is always bad except, of course,…

Ken Buck
Rep. Ken BuckR-CO-4 · Sep 29, 2022

Mr. Speaker, I want to use my time to quote other conservative voices. The Heritage Foundation just issued a report: This package equips the American people's Representatives with targeted,…

Kat Cammack
Rep. Kat CammackR-FL-3 · Sep 28, 2022

Mr. Speaker, I rise today to oppose the previous question so that we can immediately consider H.R. 6184, the HALT Fentanyl Act. Before I begin, I have to address something that was said just now. I…

Darrell Issa
Rep. Darrell IssaR-CA-50 · Sep 29, 2022

Mr. Speaker, I thank the gentleman for yielding me time. Mr. Speaker, 5 minutes is not enough to go through each and every item that is wrong with this bill, so I am going to try to summarize, and…

Mike Johnson
Rep. Mike JohnsonR-LA-4 · Sep 29, 2022

Mr. Speaker, we are deeply concerned about this for the reasons that are stated. There are a lot of people who are confused about it because what they have done here is they have taken three pieces…

Show 11 more
Earl L. "Buddy" Carter
Rep. Earl L. "Buddy" CarterR-GA-1 · Sep 28, 2022

Mr. Speaker, I rise today to oppose the previous question so that we can immediately consider H.R. 6184, the HALT Fentanyl Act, and stop the deadly flow of fentanyl into our communities. The failure…

Amy Klobuchar
Sen. Amy KlobucharD-MN · Dec 8, 2022

Mr. President, I thank my colleagues, Senator Lee and Senator Cotton. We are united on this, as is Senator Grassley, the ranking member of the Judiciary Committee, as is Senator Durbin, the chair of…

Zoe Lofgren
Rep. Zoe LofgrenD-CA-19 · Sep 29, 2022

Mr. Speaker, I rise in opposition to this bill, and I do so reluctantly, because title I, raising the fees for enforcement, I am for that. As a matter of fact, I am a cosponsor of that bill. And…

H. Morgan Griffith
Rep. H. Morgan GriffithR-VA-9 · Sep 28, 2022

Mr. Speaker, I rise to oppose the previous question so that we can immediately consider my bill, H.R. 6184, the Halt All Lethal Trafficking of Fentanyl Act. Every Member of this body knows someone…

Scott Perry
Rep. Scott PerryR-PA-10 · Sep 29, 2022

Mr. Speaker, I would just ask my colleagues, how many more times do we need to see it, the abuse of power by the Department of Justice? I am sure, just like I do, you travel your district, you talk…

Mike Lee
Sen. Mike LeeR-UT · Dec 8, 2022

Mr. President, I rise in strong support of H.R. 3843. This bipartisan package of commonsense antitrust reforms would bring a whole lot of much-needed improvements to the administration of our Federal…

Louie Gohmert
Rep. Louie GohmertR-TX-1 · Sep 29, 2022

So, Mr. Speaker, we are hearing that we have got to give DOJ and FTC all this authority to supervise and make sure that Big Tech is properly investigated. But our committee has oversight over the…

Michael C. Burgess
Rep. Michael C. BurgessR-TX-26 · Sep 28, 2022

Mr. Speaker, I rise to speak on and urge defeat of the previous question so that we can immediately take up H.R. 6184, the HALT Fentanyl Act. Mr. Speaker, there is a crisis on our southern border…

Tom McClintock
Rep. Tom McClintockR-CA-4 · Sep 29, 2022

Mr. Speaker, this bill imposes $1.4 billion in new fees on large companies seeking mergers and makes it easier to block those mergers. Now, mergers only occur when they promote efficiency and…

Sheila Jackson Lee
Rep. Sheila Jackson LeeD-TX-18 · Sep 29, 2022

Mr. Speaker, I thank the chairman and sponsors of the bill for their hard work. Let me say, the reason is obvious why I rise in support of H.R. 3843, the Merger Filing Fee Modernization Act of 2022.…

Joe Neguse
Rep. Joe NeguseD-CO-2 · Sep 29, 2022

Madam Speaker, I thank Chairman Nadler for his leadership and for yielding the time. I also thank my good friend and colleague, Mr. Cicilline from Rhode Island, who chairs the Antitrust, Commercial,…

Bill Text

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Received in SenateIssued October 11, 2022

II

117th CONGRESS

2d Session

H. R. 3843

IN THE SENATE OF THE UNITED STATES

October 11, 2022

Received

AN ACT

To protect competition and promote antitrust enforcement by adjusting premerger filing fees to increase antitrust enforcement resources.


1.

Short title; table of contents

(a)

Short title

This Act may be cited as the Merger Filing Fee Modernization Act of 2022.

(b)

Table of contents

The table of contents of this Act is as follows:

Sec. 1. Short title; table of contents.

Title I—Modernizing Merger Filing Fee Collections; Accountability Requirements; Limitation on Funding

Sec. 101. Modification of premerger notification filing fees.

Sec. 102. Reporting requirements for merger fee collections.

Title II—Disclosure of Subsidies by Foreign Adversaries

Sec. 201. Findings and purpose.

Sec. 202. Mergers involving foreign government subsidies.

Title III—Venue for State Antitrust Enforcement

Sec. 301. Venue for State Antitrust Enforcement.

I

Modernizing Merger Filing Fee Collections; Accountability Requirements; Limitation on Funding

101.

Modification of premerger notification filing fees

Section 605 of Public Law 101–162 (15 U.S.C. 18a note) is amended—

(1)

in subsection (b)—

(A)

in paragraph (1)—

(i)

by striking $45,000 and inserting $30,000;

(ii)

by striking $100,000,000 and inserting $161,500,000;

(iii)

by striking 2004 and inserting 2023; and

(iv)

by striking 2003 and inserting 2022;

(B)

in paragraph (2)—

(i)

by striking $125,000 and inserting $100,000;

(ii)

by striking $100,000,000 and inserting $161,500,000;

(iii)

by striking but less and inserting but is less; and

(iv)

by striking and at the end;

(C)

in paragraph (3)—

(i)

by striking $280,000 and inserting $250,000; and

(ii)

by striking the period at the end and inserting but is less than $1,000,000,000 (as so adjusted and published);; and

(D)

by adding at the end the following:

(4)

$400,000 if the aggregate total amount determined under section 7A(a)(2) of the Clayton Act (15 U.S.C. 18a(a)(2)) is not less than $1,000,000,000 (as so adjusted and published) but is less than $2,000,000,000 (as so adjusted and published);

(5)

$800,000 if the aggregate total amount determined under section 7A(a)(2) of the Clayton Act (15 U.S.C. 18a(a)(2)) is not less than $2,000,000,000 (as so adjusted and published) but is less than $5,000,000,000 (as so adjusted and published); and

(6)

$2,250,000 if the aggregate total amount determined under section 7A(a)(2) of the Clayton Act (15 U.S.C. 18a(a)(2)) is not less than $5,000,000,000 (as so adjusted and published).

; and

(2)

by adding at the end the following:

(c)
(1)

For each fiscal year commencing after September 30, 2023, the filing fees in this section shall be increased by an amount equal to the percentage increase, if any, in the Consumer Price Index, as determined by the Department of Labor or its successor, for the year then ended over the level so established for the year ending September 30, 2022.

(2)

As soon as practicable, but not later than January 31 of each year, the Federal Trade Commission shall publish the adjusted amounts required by paragraph (1).

(3)

The Federal Trade Commission shall not adjust amounts required by paragraph (1) if the percentage increase described in paragraph (1) is less than 1 percent.

(4)

An amount adjusted under this section shall be rounded to the nearest multiple of $5,000.

.

102.

Reporting requirements for merger fee collections

(a)

FTC and DOJ joint report

For each of fiscal years 2023 through 2027, the Federal Trade Commission and Department of Justice shall jointly and annually report to the Congress on the operation of section 7A of the Clayton Act (15 U.S.C. 18a) and shall include in such report the following:

(1)

The amount of funds made available to the Federal Trade Commission and the Department of Justice, respectively, from the premerger notification filing fees under this section, as adjusted by the Merger Filing Fee Modernization Act of 2022, as compared to the funds made available to the Federal Trade Commission and the Department of Justice, respectively, from premerger notification filing fees as the fees were determined in fiscal year 2022.

(2)

The total revenue derived from premerger notification filing fees, by tier, by the Federal Trade Commission and the Department of Justice, respectively.

(3)

The gross cost of operations of the Federal Trade Commission, by Budget Activity, and the Antitrust Division of the Department of Justice, respectively.

(b)

FTC report

The Federal Trade Commission shall include in the report required under subsection (a), in addition to the requirements under subsection (a), for the previous fiscal year—

(1)

for actions with respect to which the record of the vote of each member of the Federal Trade Commission is on the public record of the Federal Trade Commission, a list of each action with respect to which the Federal Trade Commission took or declined to take action on a 3 to 2 vote; and

(2)

for all actions for which the Federal Trade Commission took a vote, the percentage of such actions that were decided on a 3 to 2 vote.

(c)

Summary

The Federal Trade Commission and the Department of Justice shall make the report required under subsection (a) available to the Committees on the Judiciary of the House of Representatives and of the Senate, and shall, for fiscal years 2023 through 2027, no later than July 1, present a summary of the joint annual report for the preceding fiscal year, including the information required in subsections (a) and (b) of this section, to the Committees on the Judiciary of the House of Representatives and of the Senate.

II

Disclosure of Subsidies by Foreign Adversaries

201.

Findings and purpose

(a)

Findings

Congress finds the following:

(1)

Foreign subsidies, which can take the form of direct subsidies, grants, loans (including below-market loans), loan guarantees, tax concessions, preferential government procurement policies, or government ownership or control, can distort the competitive process by enabling the subsidized firm to submit a bid higher than other firms in the market, or otherwise change the incentives of the firm in ways that undermine competition following an acquisition.

(2)

Foreign subsidies are particularly problematic when granted by countries or entities that constitute a strategic or economic threat to United States interests.

(3)

The Made in China 2025 plan, states that the Chinese Communist Party will support enterprises to carry out mergers and acquisitions (M&A), equity investment, and venture capital overseas.

(4)

The 2020 report to Congress from the bipartisan U.S.-China Economic and Security Review Commission concluded that the Chinese Government subsidizes companies with a goal of their expanding into the United States and other countries, finding that [t]his process assists Chinese national champions in surpassing and supplanting global market leaders. The report warns that the risk is particularly acute when it comes to emerging technologies, where China seeks to surpass and displace the United States altogether [and that] [f]ailure to appreciate the gravity of this challenge and defend U.S. competitiveness would be dire . . . [and] risks setting back U.S. economic and technological progress for decades.

(5)

In remarks before the Hudson Institute on December 8, 2020, FTC Commissioner Noah Phillips stated, [O]ne area where antitrust needs to reckon with the strategic interests of other nations is when we scrutinize mergers or conduct involving state-owned entities . . . companies that are controlled, to varying degrees, by the state . . . [and] often are a government tool for implementing industrial policies or to protect national security.

(b)

Purpose

The purpose of this section is to require parties providing pre-merger notifications to include in the notification required under section 7A of the Clayton Act (15 U.S.C. 18a) information concerning subsidies they receive from countries or entities that are strategic or economic threats to the United States.

202.

Mergers involving foreign government subsidies

(a)

Definition

In this section, the term foreign entity of concern has the meaning given the term in section 40207 of the Infrastructure Investment and Jobs Act (42 U.S.C. 18741(a)).

(b)

Accounting for foreign government subsidies

A person required to file a notification under section 7A of the Clayton Act (15 U.S.C. 18a) that received a subsidy from a foreign entity of concern shall include in such notification content regarding such subsidy.

(c)

Authority of antitrust regulators

The Federal Trade Commission, with the concurrence of the Assistant Attorney General in charge of the Antitrust Division of the Department of Justice, and in consultation with the Chairperson of the Committee on Foreign Investment in the United States, the Secretary of Commerce, the Chair of the United States International Trade Commission, the United States Trade Representative, and the heads of other appropriate agencies, and by rule in accordance with section 553 of title 5, United States Code, shall require that the notification required under subsection (b) be in such form and contain such documentary material and information relevant to a proposed acquisition as is necessary and appropriate to enable the Federal Trade Commission and the Assistant Attorney General in charge of the Antitrust Division of the Department of Justice to determine whether such acquisition may, if consummated, violate the antitrust laws.

(d)

Effective date

Subsection (b) shall take effect on the date on which the rule described in subsection (c) takes effect.

III

Venue for State Antitrust Enforcement

301.

Venue for State Antitrust Enforcement

Section 1407 of title 28, United States Code, is amended—

(1)

in subsection (g) by inserting or a State after United States and striking ; but shall not include section 4A of the Act of October 15, 1914, as added July 7, 1955 (69 Stat. 282; 15 U.S.C. 15a); and

(2)

by striking subsection (h).

Passed the House of Representatives September 29, 2022.

Cheryl L. Johnson,

Clerk.