Consumer Reports: Senate antitrust bill will help re-set laws for a more competitive marketplace

 

WASHINGTON, D.C. — Consumer Reports today issued the following statements in support of the Competition and Antitrust Law Enforcement Reform Act of 2021 introduced by U.S. Sen. Amy Klobuchar:

Sumit Sharma, Senior Researcher, Technology Competition at Consumer Reports, said, “Consumer Reports welcomes this initiative by Senator Klobuchar to reform antitrust law to address the growing market concentration in the American economy. For consumers this has meant fewer choices and lower spending power. For small businesses and entrepreneurs, this has meant playing by market rules that are often set by dominant firms. We also welcome proposals to increase funding for the FTC and Justice Department to better monitor and enforce our antitrust laws. This is crucial to enable these agencies to hold big companies accountable.”

George Slover, Senior Policy Counsel for Consumer Reports, said, “Consumer Reports appreciates Senator Klobuchar’s steady leadership in working to strengthen our antitrust laws to equip them to protect a competitive marketplace and the benefits that consumers, small businesses, and workers receive from it. This legislation gives our antitrust laws an important re-set. It ensures that harmful merger trends and exclusionary conduct can be stopped before it is too late and the harm is locked in. It extends the reach of the law so that blocking others from a fair chance to compete is a violation, even before a monopoly results. And it gives our government the enforcement authority and resources needed for effective deterrence. We look forward to working with Senator Klobuchar and others to revive our antitrust laws for the marketplace of the 21st century.”