Legislation that would overhaul existing anti-monopoly laws has been introduced in the U.S. Senate.
Minnesota Democrat Amy Klobuchar filed the Competition and Antitrust Law Enforcement Reform Act last week. She says while the United States once had some of the most effective antitrust laws in the world, today’s economy faces a massive competition problem that can’t be swept under the rug.
Iowa Republican Chuck Grassley tells Brownfield he shares Klobuchar’s concerns about monopolies.
“I haven’t made up my mind about going along with her, but it gets my attention because I’ve had a general feeling that the antitrust laws haven’t been strong enough, or at least enforced regularly.”
Grassley says the most significant change in Klobuchar’s antitrust bill is putting responsibility for justifying a merger on the people who want to merge instead of the government being responsible for proving there’s a violation of law.
The Family Farm Action Alliance supports the legislation. President Joe Maxwell says it would help curb monopolies and build an inclusive economy for all small businesses, workers, and farmers.