Antitrust officials in Washington and their supporters across the political spectrum are closely watching Kamala Harris to see if she will continue President Joe Biden’s aggressive stance against America’s biggest companies.
The issue of antitrust, typically not a top priority in national politics, has become a key legacy issue for the Biden administration. With major suits being launched over insulin prices, financial services, and rental costs, the next president will have a significant impact on the direction of the antitrust movement.
Harris, who has not spoken extensively about antitrust, has shown support for several of the Biden administration’s competition moves in her recent economic policy plan. She has highlighted issues such as price-fixing by landlords and opposed grocery mergers, aligning herself with the actions of the Justice Department and the Federal Trade Commission.
However, some critics on the left have raised concerns about Harris’ advisors’ ties to big business, including her brother-in-law and head Uber lawyer Tony West, and debate adviser Karen Dunn, who is currently representing Google in an antitrust case. Additionally, Harris has been silent on calls to remove Lina Khan from her role as FTC chair, causing unease among antimonopoly advocates.
The outcome of the upcoming presidential election will have a significant impact on the future of antitrust enforcement. If Harris wins, she will inherit all of the administration’s ongoing cases and will have the power to determine how aggressively to pursue antitrust actions. The momentum of the antitrust movement could be at risk if a new administration does not continue the same level of commitment to challenging corporate power.
Despite some concerns, there are indications that Harris is likely to stay the course on antitrust. Advisors with backgrounds in antitrust and competition policy are involved in her campaign, suggesting a continuation of the current administration’s approach. The popularity of the Biden administration’s focus on economic competition has resonated with voters, with proposals such as banning price-gouging receiving strong support.
As the transition of power approaches, the Biden administration has been ramping up its antitrust efforts, filing numerous cases against major companies. These cases will likely continue to unfold for years, making it challenging for any successor to drastically change course on antitrust policy.
In conclusion, the future of antitrust enforcement in the United States hinges on the outcome of the presidential election and the priorities of the incoming administration. Harris’ stance on antitrust will be closely watched by advocates and critics alike as she navigates the complex landscape of corporate power and competition regulation.
