Biden unveils sweeping effort to counter corporate consolidation
1
published : 10 Jul 2021 at 07:45
1 US President Joe Biden signed an executive order to promote competition in the economy and bolster Washington s scrutiny of big mergers
NEW YORK - Vowing to reset the economy for the benefit of everyday workers and consumers, President Joe Biden unveiled on Friday a wide-ranging plan to tilt the balance of power away from corporations and towards the little guy.
Biden described the initiative as a shift from what he called Washington s 40-year experiment of letting giant corporations accumulate more and more power as he signed an executive order directing changes on everything from the sale of hearing aids to the disclosure of airline baggage fees.
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Daily Times
July 11, 2021
Vowing to reset the economy for the benefit of everyday workers and consumers, President Joe Biden unveiled on Friday a wide-ranging plan to tilt the balance of power away from corporations and towards “the little guy.”
Biden described the initiative as a shift from what he called Washington’s 40-year “experiment of letting giant corporations accumulate more and more power” as he signed an executive order directing changes on everything from the sale of hearing aids to the disclosure of airline baggage fees.
“We have to get back to an economy that grows from the bottom up,” he said. The order, which drew strong praise from consumer advocates but a scathing response from some industry lobbying groups, outlines 72 initiatives across the federal government and announces the creation of the White House Competition Council to monitor progress. A White House fact sheet cited earlier moments in US history when presidents confronted corporate power
AFP The document cited earlier moments in US history when presidents confronted corporate power, such as the trust busting push by President Theodore Roosevelt in the early 20th century that gave the little guy a fighting chance. US President Joe Biden. (Photo by Fabrice COFFRINI / POOL / AFP)
Arguing US consumers and workers have been harmed by Washington’s easy acceptance of corporate consolidation, President Joe Biden announced Friday a wide-ranging effort to bolster antitrust enforcement.
Biden plans to sign an executive order promoting competition in the American economy, encompassing everything from rulings on Big Tech mergers to airline ticket pricing and hearing aid purchases, the White House said Friday.