S. 3267 · 117th Congress
Consolidation Prevention and Competition Promotion Act of 2021
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Never voted on. It didn't reach a floor vote before the 117th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
KlobucharSponsor3 cosponsors · 3 D
3 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Consolidation Prevention and Competition Promotion Act of 2021
What it does: CRS summary · Introduced in Senate · Nov 18, 2021
Consolidation Prevention and Competition Promotion Act of 2021
This bill revises antitrust laws applicable to mergers and anticompetitive conduct.
Specifically, the bill applies a stricter standard for permissible mergers by prohibiting mergers that (1) create an appreciable risk of materially lessening competition, or (2) unfairly lower the prices of goods or wages because of a lack of competition among buyers or employers (i.e., a monopsony). Under current law, mergers that substantially lessen competition are prohibited.
Additionally, for some large mergers or mergers that concentrate markets beyond a certain threshold, the bill shifts the burden of proof to the merging parties to prove that the merger does not violate the law.
The bill also establishes within the Federal Trade Commission (FTC) the Office of the Competition Advocate.
The Government Accountability Office must report on (1) the success of merger remedies required by the Department of Justice or the FTC in recent consent decrees; and (2) the impact of mergers and acquisitions on wages, employment, innovation, and new business formation.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Consolidation Prevention and Competition Promotion Act of 2021
Latest action (Nov 18, 2021): Read twice and referred to the Committee on the Judiciary.
Policy area: Commerce · Origin: Senate · Introduced: Nov 18, 2021
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.