New this morning: @SenAmyKlobuchar is introducing a major new bill to reshape the country’s antitrust laws. The bill expands FTC & DOJ budgets, allows stiff new fines for antitrust violations, and reworks the law to discourage mega-mergers and acquisitions of nascent rivals.
— Brian Fung (@b_fung) February 4, 2021
Flips the burden of proof onto companies for certain mergers — for example, deals over $5bn & purchases of nascent rivals.
— Brian Fung (@b_fung) February 4, 2021
It would be on the companies to prove their deals do NOT create an “appreciable risk” of reducing competition, rather than on the govt to prove they do.
The Sherman Antitrust Act passed in 1890 is a fine piece of legislation.
But like any other piece of legislation that isn’t enforced because it hasn’t been properly funded it’s gone dormant since Reagan.
The QAnon Party never properly funds any legislation that might take a bite out of the Capitalists profits.
Good for Klobuchar for finally trying to kill off lassie faire Capitalism.