Missouri GOP Sen. Josh Hawley has been the target of a ferocious campaign of personal and professional destruction from Democrats and the media.
And the Left is going to hate his next move even more.
Hawley has introduced the “Trust-Busting for the Twenty-First Century Act,” which would reform the 131-year-old Sherman Antitrust Act and the Federal Trade Commission Act and protect the “sanctity of competition,” according to Axios.
“A small group of woke mega-corporations control the products Americans can buy, the information Americans can receive, and the speech Americans can engage in. These monopoly powers control our speech, our economy, our country, and their control has only grown because Washington has aided and abetted their quest for endless power,” Hawley said.
“While Big Tech, Big Banks, Big Telecom, and Big Pharma gobbled up more companies and more market share, they gobbled up our freedom and competition. American consumers and workers have paid the price. Woke corporations want to run this country and Washington is happy to let them. It’s time to bust up them up and restore competition,” he added.
According to Hawley’s website, the bill would:
–Ban all mergers and acquisitions by companies with market capitalization exceeding $100 billion
Example: Google could not purchase Waze and incorporate it into the Maps app
–Empower the FTC to designate “dominant digital firms” exercising dominant market power in particular internet markets, which will be prohibited from buying out potential competitors
Example: Facebook’s dominance in social networking should prevent it from acquiring startups seeking to build new social media platforms