By the Associated Press:
President Joe Biden signed an executive order on Friday targeting what he labeled anticompetitive practices in tech, health care and other parts of the economy, declaring it would fortify an American ideal “that true capitalism depends on fair and open competition.”
The sweeping order includes 72 actions and recommendations that Biden said would lower prices for families, increase wages for workers and promote innovation and faster economic growth. However, new regulations that agencies may write to translate his policy into rules could trigger major legal battles.
The order includes calls for banning or limiting non-compete agreements to help boost wages, allowing rule changes that would pave the way for hearing aids to be sold over the counter at drugstores and banning excessive early termination fees by internet companies. It also calls on the Transportation Department to consider issuing rules requiring airlines to refund fees when baggage is delayed or in-flight services are not provided as advertised.
