Self-proclaimed policy wonk Senator Elizabeth Warren (D-MA) has a plan for everything — just don’t count on those plans helping anyone except politicians and bureaucrats. Her plan to ban so-called “anti-competitive mergers,” in fact, is far more likely to hurt Americans than to help them.
The Prohibiting Anti-Competitive Mergers Act, introduced in the Senate by Warren and in the House by Representative Mondaire Jones (D-NY), would make it illegal to complete any merger valued over $5 billion, or that results in a market share of 33 percent for sellers or 25 percent for employers. On top of that, it would subject any already consummated merger to review and require its break up if the merger resulted in a market share over 50 percent.
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