Biden administration boosts support for antitrust efforts
The Biden administration is throwing its weight behind efforts to boost antitrust enforcement as federal agencies take on the market power of tech giants.
President Biden's $5.8 trillion budget proposal requests $227 million in increased funding for the Federal Trade Commission (FTC) and the Department of Justice (DOJ) combined - a bump advocates and agency leaders say is needed to tackle cases against the nation's wealthiest companies.
In addition to the request for increased funding, the DOJ sent letters to top lawmakers on the House and Senate Judiciary committees endorsing a key antitrust bill, a move that some advocates said could sway lawmakers who are hesitant to back the seemingly stalled legislation.
"It's very significant and it's definitely a step in the right direction. I think the thing that's been dogging any antitrust enforcement efforts, whether that's at the FTC or the Department of Justice, for decades is really a lack of capacity," Matt Kent, a competition policy advocate at Public Citizen told The Hill.
https://www.msn.com/en-us/news/politics/biden-administration-boosts-support-for-antitrust-efforts/ar-AAVDNqN