Katie Porter: “A strong capitalist economy requires competition. Weak antitrust enforcement has atrophied the bones of our economy.…”

“A strong capitalist economy requires competition. Weak antitrust enforcement has atrophied the bones of our economy. When our economy lacks competition, we see prices go up, wages drop, and innovation stall. Last year, my office released a report detailing how Big Pharma's market consolidation creates real harms for families. Too many Americans can't afford lifesaving prescription drugs because Big Pharma buys out its competitors so that it can continue its corporate abuse. We have also seen how Big Tech's market consolidation reduces consumer choice, stifles competition, and harms small businesses. Competition is central to healthy capitalism. Reining in corporate greed, holding big businesses accountable, and cracking down on monopolies will strengthen our economy. Congress must tackle market consolidation to create a level playing field for all businesses and to strengthen our capitalist economy. ____________________”