By Jarrett Freedman
The House and Senate Judiciary Committees today held a joint hearing to examine the Trump Administration’s efforts to protect corporate profits and monopolies at the expense of hardworking Coloradans.
As the federal government abandons efforts to save consumers money by holding corporations accountable, states like Colorado are leading the way to lower costs for working families by cracking down on rent algorithms, junk fees, and price gouging that drive up prices on critical necessities like housing, groceries and everyday purchases.
“We are living in a time where corporate profits go unchecked while hardworking people struggle to live paycheck to paycheck,” said Senate Judiciary Chair Julie Gonzales, D-Denver. “All this while federal agencies meant to protect everyday Americans are being gutted at the whim of an unelected billionaire and a President more interested in his own bottom line than the well-being of the people. This is why the Colorado legislature’s work to hold corporations accountable and shore up consumer protections is so critically important. We will continue to strengthen protections for Coloradans and level the playing field for all.”
“While the Trump Administration is helping the wealthiest corporate monopolies rip off the American People by dismantling essential worker and consumer protections, we’re saving Coloradans money and boosting wages,” said House Judiciary Chair Rep. Javier Mabrey, D-Denver. “Colorado Democrats are making our state more affordable by cracking down on price gouging, junk fees and rent algorithms that drive up housing prices. The testimony we heard today makes it clear that if Elon Musk,Trump and DOGE succeed, corporations will raise prices further and more easily scam Americans out of their hard earned money while preying on the most vulnerable among us.”
The committee heard testimony from Federal Trade Commissioner Alvaro Bedoya, who was illegally fired by Trump yesterday, and Seth Frotman, the former General Counsel and Senior Advisor for the Consumer Financial Protection Bureau. The witnesses highlighted how dismantling CFPB and FTC efforts to protect consumers will take money out of the pockets of the people who can least afford it while shielding corporations from accountability.
In the few months since Trump took office, the administration has halted critical efforts to protect consumers from junk fees and rent algorithms. Elon Musk and DOGE have tried to shut down the CFPB, which was established after the Great Recession to crack down on predatory financial products and practices. Both the FTC and CFPB had been actively engaged on policies to make life more affordable for working people and address these critical issues, but when Trump took office, he stopped those efforts, leaving states like Colorado to fill the gaps.
Jarrett Freedman is Deputy Chief of Staff for Strategy and Communications for the General Assembly Democrats.