- July 1, 2021
- Posted by: Stratford Team
- Category: Business
WASHINGTON – The Biden administration is preparing an executive order to improve opportunities for consumers and small businesses by stepping up oversight of areas of the economy that are dominated by a select few companies, such as meatpacking and internet service providers.
The order has yet to be finalized, but the overarching goal is to promote a sense of competition that the administration believes is central to capitalism, said a person familiar with the order who spoke on condition of anonymity Wednesday to discuss its details. The order reflects concern that the concentration of power causes higher prices and poorer quality services.
The order would direct federal agencies to enforce existing rules to help competition. In some cases, this could mean dismantling regulations that preserve power for larger companies. Two clear targets would be ending noncompete agreements that limit how much money a worker can earn by switching employers and…