Don’t Miss This! Economic Liberties Hosts Inaugural Anti-Monopoly Summit: To celebrate our movement’s seismic wins, build power, and chart a collective course forward, Economic Liberties is thrilled to be hosting a marquee one-day conference on May 4 in Washington, D.C. Featured speakers will include Senator Amy Klobuchar, NEC Director Lael Brainard, FTC Chair Lina Khan, Assistant Attorney General Jonathan Kanter, NLRB General Counsel Jennifer Abruzzo, and prominent innovators like Sonos CEO Patrick Spence, along with a diverse array of small business owners, labor leaders, and thought leaders across the economy. Find out more information and register for the Anti-Monopoly Summit here.
Rethink Trade Exposes Corporate Rigging in Trade Agreements: A bombshell new report "Loaded" from Economic Liberties’ trade program revealed that a whopping 84% of US trade advisors represent corporate interests, while labor, academia, state interests are severely underrepresented. As noted in a deep-dive from The American Prospect, that tilt in access could be why “trade policy is going sideways when Biden leadership is so committed to something new.” Hammering home the consequences of this influence, Rethink Trade also released a study examining how Big Tech companies could use this lack of transparency to preempt federal laws aimed at reining in their power. Sen. Warren, Rep. Schakowsky, and Rep. Takano echoed these concerns to “call on the Biden administration to coordinate more closely with Congress,” as noted by POLITICO Morning Trade.
Momentum Keeps Building at Antitrust Agencies: DOJ antitrust chief Jonathan Kanter and FTC Chair Khan are blocking anticompetitive merger deals at record pace — with powerful executives and corporate lawyers taking notice. But Kanter and Khan are not only stepping up merger enforcement. As Reuters notes, Kanter “has become something of a magician,” filing major suits to break up Google’s ad tech monopoly, crack down on corporate executives skirting the law, and stand up for e-sports players at Activision. At the FTC, Khan is making it easier for consumers to cancel recurring subscriptions, ensuring cancer patients can access the life-saving tests they need, and notching an important procedural win in its effort to take on an e-prescription monopoly. Economic Liberties Senior Counsel Katherine Van-Dyck helped break it down for
NPR, Chair Khan’s “methods are a threat” to those hoarding economic power.
Bailouts Debunk Myth that Banking is a Private Business: In the aftermath of the Silicon Valley Bank and Signature Bank bailouts, Economic Liberties released a narrative-defining policy brief — covered first in The New York Times’ DealBook — that offers concrete solutions to restructure the financial sector in the short- and long-term. Economic Liberties Research Director Matt Stoller, whose perspective was widely cited in bailout coverage, dug into the policymaking mistakes that got us here in a special edition of BIG.
CFPB Shows How to Fight Corporate Abuse: At the CFPB, however, Director Rohit Chopra showed this week he’s keen to use the full extent of his existing authority to combat corporate abuse in financial markets. On Monday, the agency laid out a new, rigorous framework for interpreting “abusive conduct,” taking a crucial step toward fulfilling the original intent of the Dodd-Frank Act. In his remarks to the University of California Irvine Law School unveiling this new policy statement, Chopra emphasized, "The only people who benefit from a lot of complexity are lawyers and lobbyists."
Corporate Power Legislation Floods State Capitols: Last September, Economic Liberties’ state & local team released three comprehensive policy toolkits for state and local lawmakers seeking to tackle the harms of Big Tech firms, lax antitrust laws, and the corporate subsidy machine. Now, we’re seeing policymakers spring into action, implementing some of these key proposals across the country. Just in the past few months, we’ve seen a ban on restrictive noncompete agreements and a budget increase for antitrust enforcers move through the Minnesota legislature, the unanimous passage of a ban on secret deals in the New York Senate, and an increase in antitrust law penalties making it through the Oregon Senate Judiciary Committee. Groundbreaking bills have also been introduced in Pennsylvania, Indiana, and California. Economic Liberties has been busy right along along with state legislators, most recently swarming the New York state capitol to urge the legislature to freeze useless corporate subsidy spending.
A New Era at Economic Liberties: In March, Economic Liberties welcomed Faiz Shakir, a battle-tested strategist with a tremendous track record building unique, grassroots coalitions, as our new, interim Executive Director. Together with Nidhi Hegde, Economic Liberties’ new Managing Director, Shakir will ensure Economic Liberties is able to continue seizing this critical moment to put tackling corporate power at the center of our nation’s economic agenda.
Special Treat — An Antimonopoly Agenda for the 118th Congress: Antimonopoly advocates in Congress have a once-in-a-generation opportunity to rein in corporate power this session — and in a new, detailed agenda, Economic Liberties shows them how. Learn how your lawmakers can fight concentrated power across the entire economy here.