The One Agency Act consolidates federal antitrust enforcement by transferring the Federal Trade Commission's antitrust powers to the Department of Justice's Attorney General, eliminating the current dual enforcement system. The bill redefines key antitrust terms, requires companies to submit premerger notifications to the Attorney General instead of the FTC, and prevents the FTC from launching new antitrust investigations or enforcement actions going forward while protecting ongoing litigation. The transfer occurs during a transition period of at least one year (extendable up to two years) and requires technical amendments to multiple federal laws including the Clayton Act, FTC Act, and Medicare drug pricing law to remove FTC references and align enforcement authority under a single agency. The legislation takes effect on the first day of the federal fiscal year occurring at least 90 days after it becomes law, unless specific provisions have different effective dates.
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