Warren Statement On President Biden's Effort to Promote Competition, Bolster Antitrust Enforcement
WASHINGTON, D.C. - In response to President Joe Biden's executive order to promote competition and bolster antitrust enforcement throughout the administration, U.S. Senator Elizabeth Warren (D-Mass.) released the following statement:
"Decades of bad decisions in Washington have benefited multinational corporations and big business while consumers, workers, and family-owned businesses struggle to stay afloat. Following waves of mergers and acquisitions, dominant firms have abused their market power to raise prices for consumers and lower wages for workers, while banks have exploited our personal financial data, agribusiness giants have crushed our farmers, and pharmaceutical companies have cheated the patent system to keep drug prices high.
For years I've called for tougher antitrust enforcement and to break up some of the worst offenders. Bottom line: markets should work far better for American families. President Biden's executive order takes critical steps to protect consumers and workers, strengthen antitrust enforcement, and tackle consolidation and anticompetitive practices across sectors.
Next, Congress must pass new legislation to strengthen the federal agencies responsible for enforcement and outlaw the anticompetitive practices plaguing our markets today."
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