Biden Administration Executive Order on Promoting Competition in the American Economy
Last Friday, President Biden signed an executive order focused on promoting competition in the American economy. The Executive Order directs the Administration to take decisive action toward reducing the trend of corporate consolidation and increasing competition – with the hopes of delivering concrete benefits to American consumers, workers, agriculturists, and small businesses. Nebraska Cattlemen thanks President Biden and his administration for acting rapidly to address key concerns impacting cattle producers.
“This Order hits many high-level priorities for Nebraska Cattlemen members – emphasis on the importance of more competition in the meat-packing industry, expanding broadband access opportunities for rural communities, and more access to healthcare in rural areas of Nebraska,” stated William H. Rhea III, President – Nebraska Cattlemen.
This Executive Order calls on the Federal Trade Commission (FTC) and Department of Justice (DOJ) to enforce existing anti-trust laws in agriculture markets, healthcare markets and in the big tech sector.
“With Nebraska Cattlemen having been the first organization to write a letter to DOJ on suspicions of anti-trust activity in the meat-packing industry, we thank the Administration for the continued focus to see this ongoing investigation through to the end” stated Rhea.
The Order also directs USDA to consider issuing new rules under the Packers and Stockyards Act, consider issuing a new rule to define the “Product of USA” label, increase opportunity for farmers to access markets and receive a fair return, and encourages the FTC to limit equipment manufactures from restricting people’s ability to use independent repair shops or do it yourself (DIY) repairs.
Nebraska Cattlemen continues to engage with the Biden administration on topics that enhance member profitability and support rural communities and will actively work with the
Administration as the content of this Executive Order is put in place.