Biden Signs Order to Combat Monopolies, Low Wages

HeadlineJul 12, 2021

President Biden issued a wide-ranging executive order Friday to curb anti-competitive practices, which he said stifle economic growth and lock workers into low-wage jobs.

President Joe Biden: “What we’ve seen over the past few decades is less competition and more concentration that holds our economy back. We see it in Big Agriculture, in Big Tech, in Big Pharma. The list goes on. Rather than competing for consumers, they are consuming their competitors. Rather than competing for workers, they’re finding ways to gain the upper hand on labor.”

Included in the executive order are provisions calling on federal agencies to more thoroughly scrutinize mergers; support for states and tribal governments that import cheaper prescription drugs from Canada; and for the Federal Communications Commission to restore net neutrality for broadband.

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