The consumer welfare standard, which maximizes consumer benefits instead of protecting individual competitors in the market, has been the north star of antitrust policy for over four decades. Antitrust law under the consumer welfare standard is primarily focused benefiting consumers and strengthening the competitive process, not to protect companies from being outperformed by other firms. This objective, rule-of-law approach has protected American innovation and brought consistency to antitrust enforcement.
The left – and unfortunately some on the right – want to nullify the consumer welfare standard in favor of a more activist, interventionist approach to antitrust enforcement. Their ultimate goal is to use antitrust law to address unrelated social goals and “break up” big companies. Overzealous regulators would target large companies no matter how much they improve American lives or compete fairly with other firms. This would have a chilling effect on free enterprise, crush American innovation, and give activist bureaucrats license to fundamentally reshape the American economy. OCC opposes any and all efforts to weaken or overturn the consumer welfare standard, and stands firm against attempts to use antitrust law to reshape the economy.
We will also oppose proposals such as aggressive merger prohibitions, inverting the burden of proof, allowing collusion and antitrust exemptions for politically favored firms, and politicizing antitrust enforcement decision-making more generally. Arbitrary or overly broad antitrust enforcement will impede economic recovery and risks job losses—something we should not exacerbate as the nation recovers from economic hardships and adapts to evolving market dynamics and changing consumer needs resulting from the global pandemic.
Biden Admin Pushes Klobuchar Pet Project That Has Zero Genuine Public Support
National Economic Council Director Brian Deese came out in favor of Sen. Amy Klobuchar’s antitrust pet project Thursday afternoon, telling reporters that it was a “priority” for the Biden Administration. Priority or not, Democrats do not have the votes to pass the Klobuchar bill, the “American Innovation and Choice…
Republicans Urge Biden Administration To Curb Inflation By Waiving Fertilizer Tariffs
This week, the Labor Department revealed that inflation rose 9.1 percent in June, surpassing the already-large anticipated estimates of 8.8 percent. Thanks to President Biden’s reckless policies, inflation keeps rising at rates faster than even experts have predicted. In a timely response, Congressional Republicans sent a letter to the Biden Administrating requesting…
FTC Workplace Ratings Tank Under Chair Lina Khan’s Abysmal Leadership
Traditionally, the Federal Trade Commission (FTC) has been able to attract quality employees and talent based on their reputation as one of the “Best Places to Work in the Federal Government.” In fact, when surveyed across all government agencies, the FTC has historically been ranked second on that list. But one…
Another Poll Shows Americans Do Not Care About Antitrust
The Trafalgar Group has released a poll that continues a string of data that shows just how little Americans truly care about antitrust reform. The poll ought to send a clear message to legislators that they ought to focus on bread-and-butter issues, rather than waste their time solving a nonexistent…
U.S. Should Not Take Europe’s Lead on Antitrust Regulation
The European Union has passed the Digital Markets Act and Digital Services Act, a pair of radical antitrust bills that are destined to make it more difficult for tech companies to conduct business in the European Union. Meanwhile, the United States is attempting to pass similar legislation to curb the…
Klobuchar Pet Project Floor Vote Delayed Once Again
Chaos surrounding the “American Innovation and Choice Online Act” (S. 2992) has forced lawmakers to push back a potential vote on the bill until July at the earliest. This decision comes despite Sen. Chuck Schumer (D-N.Y.) promising a vote on the legislation by early summer. This delay comes amidst a…
Coalition Letter Proves Rent-Seeking Competitors, Not Consumers, Support Klobuchar’s Antitrust Pet Project
Senator Amy Klobuchar (D-Minn.) published a letter from 60 “small” and “medium” sized tech companies in support of S. 2992, the American Innovation and Choice Online Act. Klobuchar has touted the letter as evidence that grassroots momentum exists to ram her bill through Congress before the midterms. The reality is…
Chaos Engulfs Klobuchar’s Pet Project At Eleventh Hour￼
Several Senate Democrats sent a letter to Sen. Amy Klobuchar requesting an amendment to the “American Innovation and Choice Online Act” (S. 2992) that would make it easier to continue censoring conservatives online. To be clear the bill, as currently drafted, does nothing to address Big Tech’s censorship of…
US Chamber of Commerce and 175 State & Local Chambers of Commerce Oppose Radical Antitrust Bill
Today, the US Chamber of Commerce published a coalition letter alongside 175 state and local chambers of commerce from 46 different states opposing the “American Innovation and Choice Online Act” (S. 2992). The Chamber is only the latest of a wide range of individuals and groups on both sides of the…
BAD BOSS: 10 Examples of FTC Chair Lina Khan’s “Abusive, Tyrannical” Regime
Last week, MLEX released a report documenting Lina Khan’s highly abrasive management style as Federal Trade Commission (FTC) Chair. The MLEX report documents a workplace environment within the FTC of fear, distrust and anxiety that has driven some of the most experienced and knowledgeable FTC staffers out of the agency. The…