Creating a Competitive Capitalist Economy
As a commercial law professor and consumer protection attorney, Congresswoman Porter is committed to building a competitive capitalist economy that creates opportunity for all Americans.
Congresswoman Porter knows that a strong capitalist economy requires competition. When our economy lacks competition, we see prices go up, wages drop, and innovation stall. She is leading efforts to curb market consolidation, strengthen antitrust enforcement, and create a level playing field for all Americans.
Anticompetitive behavior creates real harm for middle class families. Congresswoman Porter released a report detailing how Big Pharma buys out its competitors so that it can continue to unjustifiably jack up prescription drug prices. Because of Big Pharma’s corporate abuse, too many Americans can’t afford the prescriptions they need to survive. To protect patients and our capitalist markets, Congresswoman Porter introduced legislation that prevents drug manufacturers from profiting off unreasonable price hikes.
The consequences of anticompetitive behavior are also apparent in Big Tech, where the dominance of a few large online platforms has reduced consumer choice, stifled entrepreneurship, and harmed small businesses. Congresswoman Porter is working with her colleagues to support bipartisan legislation that will hold technology monopolies accountable by restoring competition to the online marketplace and enhancing antitrust enforcement.
For too long, weak antitrust enforcement has atrophied the bones of our economy. Congresswoman Porter has called on federal agencies to scrutinize proposed mergers that would make our economy less competitive. Whether it is major poultry companies or budget airlines trying to consolidate market power, these mega mergers often lead to higher prices for consumers, job layoffs, and cuts to workers’ pay. The Department of Justice Antitrust Division and the Federal Trade Commission Bureau of Competition play crucial roles in keeping our economy competitive, which is why Congresswoman Porter has voted to equip these agencies with the tools they need to hold monopolists accountable.
Congresswoman Porter was also proud to vote for the bipartisan Infrastructure Investment and Jobs Act, which is going to give our economy the edge it needs to remain globally competitive. New investments into roads, bridges, and renewable energy will create good-paying jobs, boost our national gross domestic product (GDP), and help keep our economy moving. Congresswoman Porter also voted for the America COMPETES Act so that American businesses and workers can continue to lead the global economy in excellence and product.
Every American benefits from a globally competitive economy. Building an economy that can compete with other nations will only be possible if every American who is willing to work hard can participate fully in our workforce. Sky-high child care costs are keeping parents out of the workforce and putting tremendous pressure on families. In December 2020, Congresswoman Porter released a report revealing how COVID-19 drove almost one in four women from the workforce—many being forced to leave their jobs to take care of their kids. She also introduced the Family Savings for Kids and Seniors Act to help families pay for child care. When we support working parents, we support our entire economy.