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Elizabeth Warren: “Republican Senator Jim Banks and I just filed a bipartisan…”

Featuring: Elizabeth Warren, Democratic | U.S. Senate, Massachusetts

Why Does A New Fire Truck Cost $2.5M?

Published July 30, 2026 | Video Starts at 09:14

I've been working with the firefighters and the fire chiefs around Massachusetts on this issue for a long time now, and Republican Senator Jim Banks and I just filed a bipartisan resolution in the Senate to force the FTC to investigate what's going on here. tell Congress what's happening, and give us a roadmap for how to move forward. This is just common sense. I'm going to keep fighting to stop Wall street from taking advantage of our firefighters. (09:14–09:26)

CLAIM

Asserts that Elizabeth Warren and Senator Jim Banks filed a bipartisan resolution for an FTC investigation.

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.

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Elizabeth Warren

“Today that very same fire truck costs two and a half million and it takes four years to arrive.”
Why Does A New Fire Truck Cost $2.5M? | Uploaded July 30, 2026 | 00:08-00:17
“At its peak, the rev group controlled about a third of the entire market.”
Why Does A New Fire Truck Cost $2.5M? | Uploaded July 30, 2026 | 03:29-03:35
“Today, three companies control 70 to 80% of fire truck manufacturing market.”
Why Does A New Fire Truck Cost $2.5M? | Uploaded July 30, 2026 | 03:35-03:43
“Fire departments across the country are facing extreme price hikes for fire trucks.”
Why Does A New Fire Truck Cost $2.5M? | Uploaded July 30, 2026 | 01:32-01:40
“Ambulances have doubled too.”
Why Does A New Fire Truck Cost $2.5M? | Uploaded July 30, 2026 | 01:58-02:01
“Massive consolidation in the fire truck manufacturing industry driven in large part by private equity.”
Why Does A New Fire Truck Cost $2.5M? | Uploaded July 30, 2026 | 02:21-02:30
“Every day those aging trucks go out past their intended lifespan, the risk to firefighters and to public safety grows.”
Why Does A New Fire Truck Cost $2.5M? | Uploaded July 30, 2026 | 04:14-04:24
“Every taxpayer in town [is paying for these fire trucks].”
Why Does A New Fire Truck Cost $2.5M? | Uploaded July 30, 2026 | 06:45-06:49
“For many communities across the country, these multimillion dollar bills are not easy to cover.”
Why Does A New Fire Truck Cost $2.5M? | Uploaded July 30, 2026 | 06:51-06:58
“The dominant manufacturers and their private equity backers bought up the competition and control the supply.”
Why Does A New Fire Truck Cost $2.5M? | Uploaded July 30, 2026 | 07:39-07:46
“A Massachusetts fire department ordered a truck in 2022, and it hadn't even gone into production when the manufacturer added $150,000 to the…”
Why Does A New Fire Truck Cost $2.5M? | Uploaded July 30, 2026 | 08:18-08:36