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
Vote on Amy Klobuchar’s Antitrust Pet Project Right Down to the Wire
Within the month, Senator Chuck Schumer (D-NY) will likely put Senator Amy Klobuchar’s (D-Minn.) radical antitrust pet project, the American Innovation and Online Choice Act (S. 2992), on the Senate floor. One might expect to see peace and tranquility within the Senate surrounding this vote based on some recent reporting that…
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…
Antitrust
Liberal Time Magazine Wishcasts Status of Klobuchar Bill
Time Magazine recently published an article providing a unjustifiably optimistic depiction of the status regarding Senator Amy Klobuchar’s (D-Minn.) radical American Innovation and Choice Online Act (S. 2992). The article presents this legislation as having vast support in Congress. This liberal fantasy, however, has been debunked numerous times. The author …
Antitrust
Dems Hold Antitrust Venue Bill Hostage to Ram Through Klobuchar’s Antitrust Pet Project
Senate Judiciary Committee Chair Dick Durbin (D-Ill.) blocked Sen. Mike Lee’s (R-Utah) bipartisan State Antitrust Enforcement Venue Act, the second time Democrats have blocked unanimous consent on the legislation. Despite its popularity and likely passage if called for a Senate vote, Durbin is holding the bill hostage to pressure Congress…
Antitrust
Amy Klobuchar’s Antitrust “Pet Project”: New Version, Same Old Mistakes
By: Tom Hebert Senator Amy Klobuchar (D-Minn.) introduced a new version of the “American Innovation and Choice Online Act” (S. 2992) late Wednesday night, the culmination of months of behind the scenes machinations to get the bill closer to the 60-vote Senate threshold. Unfortunately for Klobuchar, the latest draft is…
Antitrust
New Klobuchar Antitrust Bill Roils Senate Democratic Caucus
In private conversations with reporters, a faction of Senate Democrats are voicing their displeasure and concerns surrounding Senator Amy Klobuchar’s (D-Minn.) radical antitrust bill – the American Innovation and Choice Online Act. POLITICO reports that “10 people familiar with the matter” told them that they are concerned that “the measure could…
Antitrust
Schumer Ignores Voter Concerns by Prioritizing Bills That Will Exacerbate Inflation
Last week, a Gallup poll surveying 2,000 Americans was released with 52% of Americans naming inflation as their most important issue. It was also the most important issue for Americans across all political affiliations surveyed, including Republicans, Independents and Democrats. Photo Credit: Chairman of the Joint Chiefs of Staff from Washington…