He lays out 72 initiatives to be carried out by a dozen agencies.
The White House announced that President Joe Biden is signing a sweeping executive order designed to decrease corporate consolidation and increase competitiveness. The order is meant to increase wages through 72 initiatives, according to a fact sheet released by the White House. More than a dozen agencies will be responsible to carry out those initiatives.
The Justice Department and Federal Trade Commission are being ordered to enforce existing antitrust laws “vigorously” and that enforcement should focus on the labor markets, agricultural markets, healthcare markets, and the technology sector.
“That lack of competition drives up prices for consumers. Families are paying higher prices for necessities—things like prescription drugs, hearing aids, and internet service,” the White House press secretary said.
The president’s order also creates the “White House Competition Council” that will monitor the progress of the initiatives among the government agencies and “coordinate the federal government’s response to the rising power of large corporations in the economy.”
As the Lord Leads, Pray with Us…
- For the president’s administration as the new executive order initiatives are implemented to spur competition.
- For the Justice Department as antitrust laws are more strenuously enforced.
- For officials of the Federal Trade Commission as they evaluate sectors of the economy for anti-competitive policies.
Sources: Washington Examiner, Wall Street Journal
