Washington, D.C. — The American Economic Liberties Project released the following statement in response to the U.S. Food and Drug Administration’s new landmark proposal to improve access to and reduce the cost of hearing aid technology for millions of Americans. 

“We’re thrilled to see the FDA begin to deliver on President Biden’s promise to make hearing aids more accessible and affordable for millions of Americans,” said Matt Stoller, Director of Research at the American Economic Liberties Project. “The cost of hearing aids is astronomically expensive simply because of monopoly power. There’s more work to be done, but fostering an over the counter hearing aid market is a key step towards lowering the barriers to entry for new hearing aid manufacturers, pumping more competition into the industry, and lowering costs for consumers.”

Learn more about Economic Liberties here.

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 The American Economic Liberties Project works to ensure America’s system of commerce is structured to advance, rather than undermine, economic liberty, fair commerce, and a secure, inclusive democracy. Economic Liberties believes true economic liberty means entrepreneurs and businesses large and small succeed on the merits of their ideas and hard work; commerce empowers consumers, workers, farmers, and engineers instead of subjecting them to discrimination and abuse from financiers and monopolists; foreign trade arrangements support domestic security and democracy; and wealth is broadly distributed to support equitable political power.