Biden Signs Executive Order Aimed at Increasing Fair Competition in the Economy
Biden Signs Executive Order Aimed at Increasing Fair Competition in the Economy
Biden Signs Executive Order, Aimed at Increasing Fair Competition in the Economy.
On July 9, President Joe Biden signed an executive order which cracks down on corporate consolidation.
The executive order includes 72 initiatives across over a dozen government agencies.
Those initiatives address anti-competitive practices in the health care, transportation, banking and tech industries.
Those initiatives address anti-competitive practices in the health care, transportation, banking and tech industries.
The White House said that Biden’s order seeks to “lower prices for families, increase wages for workers, and promote innovation and even faster economic growth.".
The White House said that Biden’s order seeks to “lower prices for families, increase wages for workers, and promote innovation and even faster economic growth.".
Under the order, the federal government would ban or limit noncompete agreements to make it easier for people to switch jobs.
To reduce health care costs, the order will ask the Food and Drug Administration to work with states and tribes to import prescription drugs from Canada.
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The order also directs his administration to scrutinize Big Tech mergers more closely.
It would also allow the Department of Justice and the Federal Trade Commission to “challenge prior bad mergers that past administrations did not previously challenge.”.
The order will also encourage the FTC to create rules on the accumulation of personal information and other data by these companies... ... and would restore net neutrality rules that were undone during the Trump administration.
The order also addresses anti-competitive industry practices in the agricultural sector and transparency in the airline industry.
The order also addresses anti-competitive industry practices in the agricultural sector and transparency in the airline industry.
According to NBC News, a White House Competition Council will monitor progress on these initiatives