3.0.0 3267 2022-12-30T02:48:56Z 2022-12-30T02:48:56Z Senate S 2021-11-18 117 ssju00 Judiciary Committee Senate Standing Referred to 2021-11-19T02:39:49Z Competition and Antitrust Law Enforcement Reform Act of 2021 117 225 S 2021-02-04 Read twice and referred to the Committee on the Judiciary. Related bill CRS 2021-11-18 ssju00 Judiciary Committee Senate Read twice and referred to the Committee on the Judiciary. IntroReferral 2021-11-18 Introduced in Senate IntroReferral 10000 9 Library of Congress K000367 Sen. Klobuchar, Amy [D-MN] Amy Klobuchar D MN N B001277 Sen. Blumenthal, Richard [D-CT] Richard Blumenthal D CT 2021-11-18 True H001042 Sen. Hirono, Mazie K. [D-HI] Mazie Hirono D HI K. 2021-11-18 True B001288 Sen. Booker, Cory A. [D-NJ] Cory Booker D NJ 2021-11-18 True Commerce Commerce 00 2021-11-18 Introduced in Senate 2022-04-05T18:40:59Z 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.

]]> Consolidation Prevention and Competition Promotion Act of 2021 Display Title Consolidation Prevention and Competition Promotion Act of 2021 Short Title(s) as Introduced Consolidation Prevention and Competition Promotion Act of 2021 Introduced in Senate IS Official Title as Introduced A bill to reform the antitrust laws to better protect competition in the American economy, to amend the Clayton Act to modify the standard for an unlawful acquisition. Introduced in Senate IS Introduced in Senate 2021-11-18T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-117s3267is/xml/BILLS-117s3267is.xml 2021-11-18 Read twice and referred to the Committee on the Judiciary. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.