For the Many and ALIGN Commend Groundbreaking Proposed Updates to New York’s Antitrust Laws
POUGHKEEPSIE, N.Y. – Last week, Senator Michael Gianaris introduced the 21st Century Antitrust Act, a pioneering piece of legislation that will ensure massive corporations can no longer use their influence to rig the rules of our economy. The bill, which was spurred by a coalition of 19 organizations and businesses helmed by For the Many and ALIGN, modernizes New York’s existing antitrust law, the Donnelly Act, which has been largely unchanged since 1899.
Critically, the 21st Century Antitrust Act ensures that dominant corporations such as Amazon cannot use their power to unfairly depress wages, downgrade working conditions and benefits, fix prices, or exploit local businesses. It also mandates that workers and unions get a seat at the table to protect everyday New Yorkers from harmful corporate mergers, and gives the Attorney General stronger authority to review and challenge mergers that pose a risk to working families throughout the state.
“The 21st Century Antitrust Act is a momentous step toward empowering workers and defending New Yorkers against unprecedented corporate dominance,” said Jonathan Bix, Executive Director of For the Many. “Antitrust laws are designed to prevent powerful corporations from rigging the rules of our economy, and our democracy. When our antitrust laws were last updated–during this country’s last Gilded Age—that meant preventing collusion between multiple parties. Now, as we watch Big Tech goliaths like Amazon continue to grow larger and more powerful, we need new protections against these corporations. Senator Gianaris’s bill is an important tool for working New Yorkers to fight back.”
“While shareholders bask in their greed and profits, working New Yorkers struggle to get by,” said Theodore A. Moore, Executive Director of ALIGN and leader of the New Yorkers for a Fair Economy coalition. “Our laws haven’t been updated in more than a century, and corporations like Amazon are taking advantage by monopolizing the market, driving down wages, worsening working conditions, and controlling prices, all while suffocating competition from smaller businesses. They certainly won’t regulate themselves; it’s time for New York to set the conditions for our economy and ensure it works for all of us. We applaud Senator Gianaris for his leadership on this essential legislation.”
“The 21st Century Anti-Trust Act is common-sense legislation that modernizes our laws for today’s economy, positioning New York to lead in fighting extractive and abusive monopolies. It’s a new standard for how states can foster a vibrant marketplace that prioritizes innovation and the needs of workers, consumers, and small businesses,” said Taylor Jo Isenberg, Executive Director of Economic Security Project Action.
“The 21st Century Antitrust Act is a vital piece of legislation. It would empower New York to rein in the abusive tactics dominant corporations such as Amazon use to harm local businesses and workers, making the state a national leader in the movement to update and reinvigorate antitrust law,” said Pat Garofalo, Director of State and Local Policy at the American Economic Liberties Project. “We’re grateful to Senator Gianaris and Assemblymember Peoples-Stokes for their leadership, and hope this piece of common-sense legislation swiftly passes the Senate and Assembly and is signed into law.”
“The re-introduction of the 21st Century Antitrust Act is a crucial step toward strengthening New Yorkers’ ability to stop abuses by powerful companies within the state,” said Ron Knox, Senior Researcher and Writer, Institute for Local Self-Reliance. “For too long, dominant corporations have been allowed to corner markets and rig industries at the expense of small businesses, working people and New York communities. The bill gives law enforcers the ability to stop dominant companies from using their power to force their suppliers to offer them discounts and concessions, raising the cost of doing business for their smaller rivals. We urge the Senate and the Assembly to quickly pass the bill, and for Governor Hochul to sign the bill into law.”
Organizational sponsors include:
For the Many
ALIGN
Economic Security Project Action
American Economic Liberties Project
Institute for Local Self-Reliance
National Employment Law Project
New York Communities for Change
Jews for Racial and Economic Justice
Athena Coalition
Business sponsors include:
American Booksellers Association
American Independent Business Alliance
American Specialty Toy Retailing Association
Main Street Alliance
New Atlantic Independent Booksellers Assn
North American Hardware and Paint Association
Pharmacists Society of the State of New York
Running Industry Association
Workplace Solutions Association
Yorktown Small Business Association
By passing the 21st Century Antitrust Act, New York will reaffirm that antitrust law exists to prevent predatory and unfair conduct by the largest corporations and protect everyday people from their abuses of power. For the Many and our partners commend Senator Gianaris for introducing this necessary legislation and we call on the legislature to pass the bill as soon as possible.
