WASHINGTON – The Competitiveness Coalition issued the following statement after new U.S. government data revealed inflation climbed to 8.6% last month compared to the same period last year, the highest level since December 1981.
“Liberal Senators continuing to push antitrust proposals while inflation hits a 40-year high are divorced from reality. Congress needs to stop the antitrust insanity now before they make this bad situation worse,” said Competitiveness Coalition Chair Scott Brown. “Ramming through a bill that does nothing to bring down costs for workers but instead limits Americans’ ability to buy lower cost products is like lighting a match next to a gas leak – negligent and devastating.”
Recently, former Obama White House economic advisor and Clinton Administration Treasury Secretary Larry Summers issued a stern warning that “hipster antitrust” policies could make the economy “more inflationary and less resilient.”
Counting 17 small business, consumer, and taxpayer advocate groups, the coalition is focused on preserving American competitiveness and defeating misguided bills such as the American Innovation and Choice Online Act and Open App Markets Act. For more information, please visit competitivenesscoalition.com. Members of the press can contact the coalition at firstname.lastname@example.org.
The Competitiveness Coalition is a first-of-its-kind group educating the public and advocating for policies that put consumers first while fostering innovation and attracting new investment.