Economic Liberties Applauds Senate Committee Passage of NY Antitrust Reform

January 12, 2022 Press Release

Washington, D.C. — The American Economic Liberties Project released the following statement following passage of S933A, the 21st Century Antitrust Act, in the New York Senate’s Consumer Protection Committee. 

“The 21st Century Antitrust Act is a vital piece of legislation that will help New York address decades of corporate consolidation, empowering the state to protect workers and small businesses from the abusive practices of dominant corporations,” said Pat Garofalo, Director of State and Local Policy at the American Economic Liberties Project. “We hope the bill quickly passes the legislature and is signed into law, and that other states follow New York’s example.”

S933A reforms New York antirust law so that corporations can be held accountable for abusing their power by both state enforcers and private actors. This is accomplished through implementing what is known as an “abuse of dominance” standard for corporate actions, putting abuse of power over labor markets explicitly into the state’s antitrust statute, and creating a new merger notification regime so that the state attorney general can ensure mergers don’t occur at the expense of workers and the local economy. 

Read “Tools for Taking on Big Tech’s Economic Power: A Guide for State Lawmakers” here.

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The American Economic Liberties Project works to ensure America’s system of commerce is structured to advance, rather than undermine, economic liberty, fair commerce, and a secure, inclusive democracy. Economic Liberties believes true economic liberty means entrepreneurs and businesses large and small succeed on the merits of their ideas and hard work; commerce empowers consumers, workers, farmers, and engineers instead of subjecting them to discrimination and abuse from financiers and monopolists; foreign trade arrangements support domestic security and democracy; and wealth is broadly distributed to support equitable political power.