Gage Skidmore via Wikimedia Commons

President Joe Biden signed a sweeping executive order on Friday with the intention of supposedly promoting competition through the US economy.

As Politico reports:

The White House announced a sweeping executive order Friday to promote competition throughout the U.S. economy, in the most ambitious effort in generations to reduce the stranglehold of monopolies and concentrated markets in major industries.

The order — whose details POLITICO first reported last week — also includes elements designed to lower the price of prescription drugs, protect consumers’ privacy and increase scrutiny of abusive business tactics in the tech industry.

The effort marks a major push by President Joe Biden’s administration to focus on competition as part of the economic recovery from the pandemic. It also offers a response to progressives’ criticisms that the federal government has focused too much on supporting banks and other corporations without concern about the effect on consumers, who have watched their choices dwindle over the years.

Biden plans to sign the order at 1:30 p.m., the White House said.

Will Biden’s new order actually help Americans who are struggling due to high prices? Let us know what you think in the comments below.




Comments

  1. Hmmm? Lower Rx Prices? Isn’t that a Trump platform idea? Too bad for all the drug companies who backed Biden just so they could oust Trump for that very reason. Will be very interesting to see what happens if this EO actually does lower Rx prices and if so, what repercussions Sleep Joe will face from Big Pharma!

  2. Is this a preemptive strike to somehow undermine President Trump’s lawsuit against Big Tech censorship? After all, one of the arguments in the suit is that these companies operate like monopolies.

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