"Amazon is a monopoly. And we’re going to stop them."
"We need strong antitrust legislation to hold abusive corporations accountable." —Anthony Castellena, @TeamstersJC16
"We are surrounded by monopolistic corporations. We are in the epicenter of the new gilded age." — @EmilyAssembly
"It’s time we do something about strengthening our antitrust laws. It’s a kitchen table issue that matters to workers, that matters to consumers." —@DickGottfried
"Abusive corporations have too much power over our economy and this must stop...These corporations are forcing small businesses in our communities to close. This is wrong." —Leroy Johnson, former small biz owner & member of @nychange
"This is an iron triangle of power. You've got labor, you've got small businesses, and you've got civil rights and community leaders coming together.
"These large corporations are getting away with murder. They push all government — the federal government, the state government — to bend to their reality.
We're not going to take it anymore."
"Monopoly power is the biggest threat to small businesses and this bill does a lot to help them." —Katy Milani, @ILSR
NEW: We're out with a new paper on how utilities overcharge ratepayers through excessive rates of return (ROR).
We call for a simple reform: codifying the long-standing regulatory principle to align ROR with utilities' actual, market-based cost of capital. High-level 👇🧵
2/ Investor-owned utilities have increased rates 49% more than inflation in the last three years.
A core problem: unreasonably high ROR—the returns regulators allow utilities to pay investors for assuming the risk of providing capital to the utility. economicliberties.us/our-work/rate-…
3/ When regulators determine how much utilities can charge customers, their responsibility is to approve “just and reasonable” rates.
According to a longstanding, court-validated standard, a just and reasonable rate is what is needed for utilities to cover their “cost of capital” (COC) – that is, to provide an investor return sufficient to attract equity financing.
Last Friday marked the end of Jonathan Kanter’s extraordinary tenure as head of @JusticeATR.
As AAG, he brought old-school trust-busting back to life and fought tirelessly for fair markets.
We’re grateful for—and still in awe of—all ATR accomplished under his leadership.👇🧵
2/ A cornerstone of his legacy? Reviving the enforcement of Section 2 of the Sherman Act—a law designed to tackle monopolization.
From 2000 to 2021, @JusticeATR brought just one case under Section 2—the Google search monopoly case, brought by Trump’s DOJ—and litigated zero.
3/ Under Kanter, @JusticeATR litigated and won the Google search case—a landmark win against a monopoly whose power rivals that of many governments, and a message to monopolists accustomed to settling cases on the cheap that there was a new sheriff in town.
This couldn't be more false—@CFPB firmly opposed debanking and has taken measures to stop it.
The real reason @pmarca, @elonmusk & other tech oligarchs are attacking this agency is because it has protected consumers against scams they’ve profited from.
This cynical report—which @elonmusk used to call for @linakhanFTC's firing today—is part of a campaign to remove an effective and popular public servant for actually serving the public, rather than billionaires.
3/ The report claims Khan has “forsaken" FTC bipartisanship.
Chair Khan's FTC has unanimously voted to approve everything from a revised merger notification form, to a surveillance pricing investigation, to banning fake reviews. ftc.gov/news-events/ne…
NEW: In response to a joint @FTC and @JusticeATR request for information on serial acquisitions, we've submitted a comment on private equity's takeover of the veterinary industry.
Reid Hoffman wants @VP Harris to toss aside @linakhanFTC and the Biden-Harris admin’s antitrust accomplishments.
But given how successful the competition record is in delivering for working families, it’s clear why the only people who want to change course are billionaires🧵👇
2/Liberating workers: The @FTC banned noncompete clauses, which trap over 30 million American workers in their jobs, and it’s expected to boost wages by ~$488B over the next decade! The Chamber of Commerce tried to fight it.
3/ @JusticeATR has also fiercely prosecuted no poach agreements and wage fixing — protecting nurses, chicken farmers, and workers across the economy.