President Biden is set Friday to sign an executive order that cracks down on anticompetitive practices by Big Tech, labor and other sectors of the economy.
The order includes 72 actions and recommendations, in response to growing concerns about corporate consolidation and the effectiveness of existing antitrust laws.
The sweeping order also will involve over a dozen federal agencies, according to a White House fact sheet.
The wide-ranging goals and initiatives include urging the Federal Trade Commission to “challenge prior bad mergers” that previous administrations didn’t and for the agency to ban or limit non-compete agreements.
Biden will ask the FTC, as part of the order, to block exclusivity deals between landlords and broadband providers, according to CNBC.com.
“Lack of competition drives up prices for consumers,” the White House said ahead of Biden’s scheduled signing of the order. “As fewer large players have controlled more of the market, mark-ups (charges over cost) have tripled. Families are paying higher prices for necessities – things like prescription drugs, hearing aids, and internet service.”
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