Staff of Reuters 7 minutes Reuters (Reuters) – President Joe Biden signed an executive order on Friday aimed at removing barriers to competition in industries like healthcare, financial services, and agriculture, as well as raising wages and cutting prices, according to the White House. PHOTO FROM THE FILE: On June 2, 2021, US President Joe Biden leaves the White House after giving an update on his administration’s coronavirus disease (COVID-19) response at the Eisenhower Executive Office Building’s South Court Auditorium. Carlos Barria/Reuters The following is the order of events. * Calls on the leading antitrust agencies, the Department of Justice (DOJ) and the Federal Trade Commission (FTC), to vigorously enforce antitrust laws and recognizes that the law allows them to challenge bad mergers that pave the way for bad mergers that pave the way for bad mergers that pave the way for bad mergers that pave the way for bad mergers that pave the way for bad mergers that pave the way for bad mergers that pave the way for bad mergers that pave LABOR MARKETS* Urges the FTC to prohibit or limit non-compete agreements.* Urges the FTC to prohibit unnecessary occupational licensing restrictions that stifle economic mobility.* Urges the FTC and DOJ to strengthen antitrust guidance to prevent employers from colluding to suppress wages or reduce benefits by sharing wage and benefit information. HEALTHCARE* Pursuant to the Medicare Modernization Act of 2003, directs the Food and Drug Administration to work with states and tribes to safely import prescription drugs from Canada.* Directs the Health and Human Services Administration (HHS) to increase support for generic and biosimilar drugs, which provide low-cost options for patients. Hearing Aids* Directs HHS to consider issuing draft rules for over-the-counter hearing aid sales within 120 days. Hospitals* Reminds the Justice Department and the Federal Trade Commission that hospital mergers can be damaging to patients, and urges them to examine and amend their merger standards to ensure that patients are not injured by such mergers. Directs the Department of Health and Human Services to maintain existing hospital price transparency guidelines and to complete the implementation of bipartisan federal legislation to address surprise hospital billing. Health Insurance* Requires the Department of Health and Human Services to standardize plan options in the National Health Insurance Marketplace so that customers can compare plans more readily. TRANSPORTATIONAirlines* Directs the Department of Transportation (DOT) to consider issuing clear rules requiring the refund of fees when baggage is delayed or when service isn’t provided, such as when a plane’s WiFi or in-flight entertainment system fails.* Directs the DOT to consider issuing rules requiring baggage, change, and cancellation fees to be clearly disclosed to the custodian. Rail* Urges the Surface Transportation Board to compel railroad track owners to give passenger rail rights of way and to tighten their responsibility to treat other freight firms fairly. Shipping* Urges the Federal Maritime Commission to vigorously prosecute shippers that charge unreasonable fees to American exporters. AGRICULTURE* Directs the United States Department of Agriculture (USDA) to consider issuing new rules under the Packers and Stockyards Act to make it easier for farmers to file and win claims, to prevent chicken processors from exploiting and underpaying chicken farmers, and to adopt anti-retaliation protections for farmers who speak out against bad practices. INTERNET SERVICE* Encourages the Federal Communications Commission (FCC) to prevent ISPs from making deals with landlords that limit tenants’ choices.* Encourages the FCC to revive the “Broadband Nutrition Label” and require providers to report prices and subscription rates to the FCC. TECHNOLOGY* Announces a policy of increased scrutiny of mergers, particularly by dominant internet platforms, with a focus on the acquisition of nascent competitors, serial mergers, data accumulation, competition by “free” products, and the impact on user privacy.* Encourages the FTC to establish rules on surveillance and data accumulation. BANKING AND CONSUMER FINANCE* Encourages the Department of Justice and the banking agencies (the Federal Reserve, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency) to update guidelines on banking mergers to provide more robust scrutiny of mergers. Howard Goller edited the piece./n
Read More
