Groups Call on Congress to Address Concerns over Economic Harms of Proposed Antitrust Bills

BY Heather Greenfield
April 27, 2022

Washington – A dozen organizations have penned a joint letter to lawmakers Wednesday to express concerns over the economic harms that proposed antitrust legislation will have on American consumers and businesses of all sizes. The broad, diverse, and bipartisan array of signatories includes the Council and the Computer & Communications Industry Association, TechNet, the Small Business Entrepreneurship Council, U.S. Hispanic Business Council, NetChoice, Consumer Technology Association, Software & Information Industry Association, Connected Commerce Council, Information Technology and Innovation Foundation Schumpeter Project, Taxpayers Protection Alliance, Americans for Prosperity, and National Taxpayers Union.

The widespread concern comes after an economic study by National Economic Research Associates (NERA) revealed the antitrust bills – S. 2992, H.R. 3816, H.R. 3825, and H.R. 3826 – would cost the U.S. economy up to $319 billion. These costs would be borne by consumers and business users of the targeted companies in the form of higher retail costs and loss of valued services. The study concludes that there are “no quantifiable benefits from the bills for consumers or small businesses.”

“The antitrust bills will cause economy-wide harm beyond just tech. The antitrust bills are messaged as just targeting Google, Amazon, Facebook, and Apple, but the NERA analysis reveals that the use of simplistic language that relies on market capitalization means that more American companies would be captured in just a few years: 13 additional companies in the next 5 to 10 years and likely over 100 companies by the 2030s,” reads the joint letter.

“We urge lawmakers to fully consider the above harmful effect of this legislation, and to oppose regulations that would harm consumers, undermine American innovation, and damage the U.S. economy.”

Related Articles

New Economic Impact Analysis Reveals Cost of Proposed Tech Regulations Would Total up to $109 Billion for Public Sector Workers; $1.02 Trillion for U.S. Investors

May 20, 2022

Washington – A new economic impact analysis by the Computer & Communications Industry Association reveals that proposed regulations in antitrust bills like S. 2992 and H.R. 3816 would come at a major cost for U.S. investors and pension plan members such as teachers, firefighters, and nurses. Troubling findings show that by the late 2030s, increased…

ICYMI: Experts Discuss Finding the Right Balance in Competition Enforcement and Start-up Acquisitions

Apr 5, 2022

Washington – FTC Commissioner Noah Phillips gave the keynote address at the Computer & Communications Industry Association’s annual panel on digital competition issues Tuesday ahead of  the American Bar Association (ABA) Antitrust Spring Meeting. Phillips told those at the lunch panel the two biggest antitrust changes he expects under the Biden administration FTC will be…

Economic Study Finds Congressional Antitrust Bills to Cost Consumers, Business Users $319 Billion

Mar 22, 2022

Washington — A comprehensive economic study by National Economic Research Associates (NERA) finds that proposed antitrust legislation in Congress could cost the economy $319 billion. The result would be increased costs and loss of services for consumers, small businesses and other users of the bills’ target companies — Google, Facebook, Apple, Microsoft and Amazon.  The…