ILSR Urges Quick Passage of New York’s 21st Century Antitrust Act
WASHINGTON, D.C. (May 21, 2024) – In a statement, ILSR’s senior researcher, Ron Knox, responded to the introduction of New York’s 21st Century Antitrust Act in both the state’s Senate and Assembly.
“The re-introduction of the 21st Century Antitrust Act is a crucial step toward strengthening New Yorkers’ ability to stop abuses by powerful companies within the state. For too long, dominant corporations have been allowed to corner markets and rig industries at the expense of small businesses, working people, and New York communities. We urgently need to restore fair competition to ensure that communities across the state can thrive.
The bill’s clear prohibition on abusive conduct will help ensure that happens. For example, the bill gives law enforcers the ability to stop dominant companies from using their power to force their suppliers to offer them discounts and concessions, raising the cost of doing business for their smaller rivals. It also gives the state the ability to police corporate mergers and dealmaking, which, if left unchecked, would further concentrate corporate power in the state. We urge the Senate and the Assembly to quickly pass the bill and for Governor Hochul to sign the bill into law.”
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