On the recordFebruary 15, 2007
Our Nation's competition laws are powerful tools to ensure that consumer welfare is the benchmark of fair and accountable industry practices. These competition laws are what make businesses work in America. The vast majority of the companies doing business in the United States are subject to our antitrust laws. Consumers benefit from lower prices, more choices, better services. There are only a few industries that operate outside the Federal antitrust laws. The bipartisan measure I have introduced would end the insurance industry's exemption from the requirement of those laws. The insurance industry's practices affect us all. Perhaps nowhere has the industry and its practices come under as much scrutiny as along the gulf coast in the wake of hurricanes Katrina and Rita.
Source
govinfo.gov
