An ever-shrinking group of woke mega-corporations control the products Americans can buy, the information Americans receive, the speech Americans can engage in, the books Americans can read, and the jobs Americans can obtain.
These monopoly powers control our speech, our economy, our country — and their control has only grown because Washington has aided and abetted their quest for more power. While Big Tech, Big Banks, Big Telecom, and Big Pharma gobbled up more companies and more market share, they gobbled up our freedom and competition.
This happened because globalists hijacked our anti-trust policy and laws. Mega-corporations allied with Washington to prioritize cheap goods in China ahead of the American people. And Washington handed the keys to Big Tech behemoths to take over our digital economy and public square.
We need a trust-busting agenda for the 21st century that puts power back into the hands of the American people. We have to make it easier for enforcers to break up megafirms, crack down on mergers and acquisitions by monopoly companies, strengthen antitrust enforcement to pursue the breakup of dominant, anticompetitive firms.
Solutions for the 21st Century
Ban all mergers and acquisitions by companies with market capitalization exceeding $100 billion
Drastically increase antitrust penalties by requiring companies that lose federal antitrust suits to forfeit all their profits resulting from monopolistic conduct
Clarify that “vertical” mergers are not exempt from antitrust scrutiny
Empower the FTC to designate “dominant digital firms” exercising dominant market power in particular internet markets, which will be prohibited from buying out potential competitors
Prohibit dominant digital firms from privileging their own search results over those of competitors without explicit disclosure
Reform the Sherman and Clayton Acts to make clear that direct evidence of anticompetitive conduct is sufficient to support an antitrust claim, which will allow enforcers to effectively pursue the breakup of dominant firms and prevent antitrust cases from devolving into battles between economists
Replace the outdated numerically-focused standard for evaluating antitrust cases, which allows giant conglomerates to escape scrutiny by focusing on short-term considerations, with a standard emphasizing the protection of competition in the U.S.
Ban major companies in the business of offering search engines, marketplaces, and exchanges from competing with third-party vendors by selling, advertising, or promoting their own competing goods and services on their sites
"If you allow corporations to amass significant economic power through market concentration, they are going to have political power, and they're going to use it."
Senator Josh Hawley
For years, Big Tech has gone unchecked due to inaction, weak enforcement, and a lack of accountability at the Federal Trade Commission. U.S. Senator Josh Hawley is proposing to overhaul the agency by restructuring it to meet the needs of today’s digital markets.