[Congressional Record Volume 167, Number 196 (Tuesday, November 9, 2021)]
[Extensions of Remarks]
[Page E1215]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




               MAINTAINING U.S. ECONOMIC COMPETITIVENESS

                                 ______
                                 

                       HON. DONALD S. BEYER, JR.

                              of virginia

                    in the house of representatives

                       Tuesday, November 9, 2021

  Mr. BEYER. Madam Speaker, I rise today to speak about the importance 
of economic competitiveness.
  This is an economic issue that the President has prioritized in his 
efforts to build back better, recognizing that promoting competition 
can lower prices for families, increase wages for workers, and promote 
innovation and even faster economic growth. On July 9, 2021, President 
Biden issued an Executive Order on ``Promoting Competition in the 
American Economy,'' which stressed the importance of a resilient 
economy that incorporates a fair, open, and competitive marketplace, 
and warned against excessive market concentration which threatens basic 
economic liberties, democratic accountability, and the welfare of 
workers, farmers, small businesses, startups, and consumers.
  In the Joint Economic Committee, which I chair, we held a hearing 
earlier this year on corporate power, specifically on the rise and 
concentration of corporate market power in the United States and how it 
harms consumers, workers, and small businesses. In that hearing, we 
found that as business concentration has increased in the United 
States, the rise of concentrated corporate market power in the U.S. is 
associated with weak investment rates, lower productivity growth, and 
higher prices. Indeed, firms invest less per dollar of profit today now 
than they did in the second half of the 20th century, making labor less 
productive and suppressing wages.
  Congress over the years has acted to promote competition, including 
legislation like the Lanham Act to regulate the registration and use of 
trademarks and protect from unfair competition. Further, the Lanham Act 
provides federal judicial protection against infringement for 
trademarks registered with the U.S. Patent and Trademark Office. 
Specifically, the law provides federal causes of action for trademark 
dilution and several unfair competition claims, such as unregistered 
trademark infringement, false advertising, false endorsement, and false 
designation of origin.
  I am concerned by cases where domestic, foreign, or multinational 
corporations are using the Lanham Act to suppress or restrict 
competition within the United States, particularly with small 
businesses. It is especially disheartening when those goods or services 
are dedicated to the health and safety of minority communities, where 
the impact of these cases will be felt most.
  Our economy has traditionally been a powerful engine for innovation 
that has provided unmatched prosperity to millions. However, 
unprecedented corporate concentration and anticompetitive practices are 
preventing us from reaching our economic potential. I urge my 
colleagues to champion the Biden agenda for economic competitiveness 
and take steps to tackle pernicious behavior.

                          ____________________