According to the fact sheet released by the White House, the executive order is Joe Biden Signing today is “72 initiatives by more than 12 federal agencies to quickly address some of the most pressing competition issues in the economy as a whole.”
In particular, this order prohibits or limits non-compete agreements to facilitate job changes and wage increases in certain industries.
In the aviation industry, the government requires companies to provide clear and advance disclosure of surcharges to make their customers more vulnerable to refunds.
This order also facilitates the process of switching banks by requiring customers to bring their financial data to another company.
On the enforcement side, the order requires the Justice Department and the Federal Trade Commission to “actively enforce antitrust laws” and, if necessary, “challenge previous bad mergers.”
Stay tuned for more details on future orders on our blog.
Brian Deese, The President of the White House National Economic Council described the executive order as an opportunity to reset antitrust laws.
“It’s not just about monopolies, but about more general integration and lack of competition in the presence of limited market players,” Deeds told CNBC.
Economic experts say that some data are wages 17% It will be lower in industries where enterprise integration is progressing.
“The urge to this executive order is really around, where can we encourage overall greater competition?” Deeds said.
Biden signing executive order to crack down on monopoly
Greetings from Washington, readers of live blogs.
Later today Joe Biden Sign an executive order to “promote competition in the American economy” according to the official schedule from the White House.
Politico report About last week’s executive order:
The White House has created an executive order aimed at promoting competition across the US economy. This is a move aimed at relaxing the shackles of dominant players in the industry, from banking and agriculture to shipping and air travel. …
It will also revolutionize the government’s approach to the growing monopoly concerns of the 21st century. Enforcing antitrust laws is no longer enough. BIden management Use the power of the federal government to actively drive competition in a huge number of companies.
Executive order is the latest sign that Biden is focusing on antitrust issues, Delighted progressive People who have been urging the federal government to crack down on corporate power for years.
Biden’s efforts to curb corporate strength extend to his infrastructure plans as he has called on major companies to pay a “fair distribution” of taxes to fund his proposal.
“I’m not going to hit anyone, I’m just going to the game,” Biden said Wednesday, discussing the need for a tax increase for the wealthiest Americans with businesses.
We plan to add more blogs in the future, so stay tuned.
Biden cracks down on monopoly on executive order – Live | US News
Source link Biden cracks down on monopoly on executive order – Live | US News