President Donald Trump signed an executive order Monday meant to address ticket scalping and entertainment event prices.
With Kid Rock appearing beside him in the Oval Office, President Trump signed an order that will task Attorney General Pam Bondi and Treasury Secretary Scott Bessent with making sure IRS rules apply to ticket resales. It also directs the Federal Trade Commission to enforce price transparency for ticket sales, and "take enforcement action to prevent unfair, deceptive, and anti-competitive conduct in the secondary ticketing market."
“America’s live concert and entertainment industry has a total nationwide economic impact of $132.6 billion and supports 913,000 jobs,” a White House fact sheet on the order read. “But it has become blighted by unscrupulous middle-men who impose egregious fees on fans with no benefit to artists.”
"I want the fans to have fair ticket prices,” Kid Rock said during the signing. “There’s plenty of money to go around. Nobody’s going to lose here."
Agencies have six months to take their initial steps and to recommend any other legislation or policy to protect consumers in the event ticket market.
RELATED STORY | What's Ahead For Ticketmaster, Live Music After Taylor Swift Tour Mess
President Joe Biden's administration took similar aim at the entertainment ticket industry. The Justice Department under Biden sued Ticketmaster and Live Nation Entertainment, alleging the companies ran a virtual monopoly over ticket sales, and caused customers to pay unfair prices.
Fans of Taylor Swift also recently brought suit against the companies, alleging violation of antitrust laws.
