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President Joe Biden on Friday signed a new executive order aimed at reeling in Big Tech and protecting competition across a variety of industries, including agriculture and banking. In a fact sheet outlining the sweeping order, which includes 72 actions and recommendations that involve a dozen federal agencies, the administration said it seeks to “reduce the trend of corporate consolidation, increase competition, and deliver concrete benefits to America’s consumers, workers, farmers, and small businesses.” The order seeks to lower prescription drug prices, allow hearing aids to be sold over the counter, ban or limit the use of non-compete agreements and more. Biden said before signing the bill Friday afternoon that the use of non-compete agreements has exploded in recent years and suppressed wage growth. “Workers should be free to take a better job if someone offers it to them,” Biden said. Non-compete clauses, he added, “are done for one reason: to keep wages low.” Biden said workers from McDonald’s were not able to accept a job at Burger King due to non-compete agreements, even though Politifact has rated this statement “false” when he made it during his campaign.

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