Democrats Support New FTC and DOJ Merger Guidelines
COLUMBUS – State Senator Kent Smith (D-Euclid) and State Representatives Munira Abdullahi (D-Columbus), Dani Isaacsohn (D-Cincinnati), and Elliot Forhan (D-South Euclid) Wednesday joined 52 other state legislators from 22 states to submit comments supporting Federal Trade Commission (FTC) and Department of Justice (DOJ) corporate merger guidelines.
“I am proud to support the new FTC and DOJ merger guidelines,” said Sen. Smith. “Today, a select few companies, as a result of corporate mergers, dominate too much of the market. When these mergers happen, corporations oftentimes forget about consumers, workers, and small businesses. The new guidelines take a step in the right direction to once again have a free and fair market in the United States.”
“For too long, many guidelines, legislators, and practices have failed working-class Americans,” said Rep. Abdullahi. “It is my honor to support the new FTC and DOJ merger guidelines that create a protective environment for workers, families, and whole communities.”
“Across almost every industry, American workers and consumers have been harmed by corporate consolidation and anti-competitive behavior,” said Rep. Isaacsohn. “These guidelines are fundamentally America: they would bolster a healthier economy that sparks innovation, creates jobs, and fosters growth.”
“Through the consolidation of our economy into the hands of a few individuals, workers are at greater risk of being denied a fair wage and benefits while companies see their profits soar,” said Rep. Forhan. “Consumers, workers, and small business owners should not have to pay the price of greedy executives trying to conquer the market and stifle competition.”
These newly proposed guidelines aim to align with President Biden’s 2021 Executive Order, which promoted competition in the economy. By having a competitive economy, workers have access to high-quality and higher wage jobs, business owners have multiple choices among suppliers, consumers aren’t overcharged, and entrepreneurs have a fair shot to compete. We support these new guidelines because Ohio Democrats put people first.
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