Today U.S. Senator Josh Hawley (R-Mo.) introduced the Strengthening Antitrust Enforcement for Meatpacking Act to empower antitrust enforcers to break up giant meatpacking and poultry monopolies and place power back in the hands of Missouri's farmers and workers. The introduction of Senator Hawley's legislation comes after Tyson Foods announced it will be closing the doors of its poultry plants in southern Missouri, costing the state more than 2,000 jobs.
"Today's meatpacking monopolists are making massive profits while shutting down competition," said Senator Hawley. "Congress must give antitrust prosecutors the power to end anti-competitive behavior without lengthy court battles. It’s time to hold monopolies accountable and empower farmers."
The Strengthening Antitrust Enforcement for Meatpacking Act would:
- Amend the Packers and Stockyards Act of 1921 to establish specific thresholds for market concentration, allowing federal antitrust authorities to more effectively prohibit or unwind acquisitions that concentrate the meatpacking sector.
- Deter further meatpacking concentration by disincentivizing entrenched meatpacking interests from buying up more competitors.
- Put more power back in the hands of farmers and workers.
Read the full bill text here.