Antitrust

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.

Antitrust

Senate Dems Pump Brakes on Klobuchar Antitrust Pet Project As Time Runs Out

In a letter to Sen. Amy Klobuchar (D-Minn.), four Senate Democrats raised a “significant issue” with the “American Innovation and Choice Online Act” (S. 2992).  Sens. Brian Schatz (D-Hawaii), Ron Wyden (D-Ore.), Ben Ray Luján (D-N.M.), and Tammy Baldwin (D-Wis.) are concerned that the bill would “hinder content moderation practices”…

Antitrust

Obama CEA Director Joins Bipartisan Condemnation of Radical Antitrust Reform

Yesterday, Former Obama Administration Council of Economic Advisors Director Jason Furman joined the growing pool of experts condemning radical antitrust reform. These statements emphasize further the risk that such extremist policies pose to our economy and only add to the increasing list of reasons as to why Congress must reject…

Antitrust

Wall Street Journal Editorial Board Denounces Radical Klobuchar Antitrust Bill

In the latest of a string of condemnations of the radical Klobuchar antitrust bill, the American Innovation and Choice Online Act (S. 2992), the Wall Street Journal Editorial Board published an opinion piece this week denouncing the legislation.  Photo Credit: Gage Skidmore from Peoria, AZ, United States of America, CC BY-SA…

Antitrust

Top 3 Ways AICO Would Break Prime

Amazon released a warning this week about the consequences that Senator Amy Klobuchar’s [D-Minn.] radical antitrust legislation, the American Innovation and Choice Online Act. In their statement, they alert members of Congress that the passage of this bill will lead to a significant decline in Amazon Prime services that 200 million…

Antitrust

Republicans Should Not Use Recent Supreme Court Decision as Reason To Support Left-Wing Klobuchar Antitrust Bill

This week, the Supreme Court blocked a Texas law that “[requires] social media sites to post all content that expresses a ‘viewpoint.’” The SCOTUS decision may heighten conservatives concerns about the continued ability of Big Tech companies to silence and limit conservative speech online.  But these concerns should not encourage…

Antitrust

Sen. Klobuchar’s Bill is About Crony Capitalism, Not Competition

Sen. Amy Klobuchar (D-Minn.) has released a third version of her half-baked “American Innovation and Choice Online Act” (S. 2992), legislation that would whack companies above a government-set size with crippling new regulations.  Instead of addressing fundamental problems with the legislation, the new draft contains new carveouts for select industries…