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Break up the cable monopolies? Democrats propose new competition laws
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| Contributor | RP |
| Last Edited | RP Jul 24, 2017 06:19pm |
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| Category | Proposed Legislation |
| Author | Jon Brodkin |
| News Date | Monday, July 24, 2017 05:55:00 PM UTC0:0 |
| Description | Senate and House Democratic leaders today proposed new antitrust laws that could prevent many of the biggest mergers and break up monopolies in broadband and other industries.
"Right now our antitrust laws are designed to allow huge corporations to merge, padding the pockets of investors but sending costs skyrocketing for everything from cable bills and airline tickets to food and health care," US Senate Minority Leader Chuck Schumer (D-NY) wrote in a New York Times opinion piece. "We are going to fight to allow regulators to break up big companies if they’re hurting consumers and to make it harder for companies to merge if it reduces competition."
The "Better Deal" unveiled by Schumer and House Democratic Leader Nancy Pelosi (D-Calif.) was described in several documents that can be found in an Axios story. The plan for "cracking down on corporate monopolies" lists five industries that Democrats say are in particular need of change, specifically airlines, cable and telecom, the beer industry, food, and eyeglasses. The Democrats' plan for lowering the cost of prescription drugs is detailed in a separate document. |
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