{"id":112673,"date":"2023-09-05T15:10:00","date_gmt":"2023-09-05T19:10:00","guid":{"rendered":"https:\/\/www.shortform.com\/blog\/?p=112673"},"modified":"2023-09-08T15:15:14","modified_gmt":"2023-09-08T19:15:14","slug":"executive-order-14036","status":"publish","type":"post","link":"https:\/\/www.shortform.com\/blog\/executive-order-14036\/","title":{"rendered":"Biden’s Executive Order 14036 Targets Monopolies"},"content":{"rendered":"\n

What is Executive Order 14036? What are supporters and critics saying about the plan? What\u2019s the likelihood that it will succeed?<\/p>\n\n\n\n

President Biden is challenging huge corporations\u2019 control over markets with new directives to increase competition and oversight. The success of Biden\u2019s plan may hinge on modernizing outdated antitrust laws through bipartisan legislation. But lack of cooperation between parties poses a challenge.<\/p>\n\n\n\n

Here’s an overview of the plan’s goals and what it would entail.<\/p>\n\n\n\n\n\n\n\n

Promoting Competition in the American Economy<\/h2>\n\n\n\n

In July, President Biden launched a campaign against mega-corporations<\/a>, directing federal agencies to implement sweeping measures to increase competition, cut costs, and break the grip of a few corporate titans across key sectors of the US economy.<\/p>\n\n\n\n

Executive Order 14036<\/h3>\n\n\n\n

On July 9, 2021, President Biden signed a landmark executive order<\/a> 14036 making competition a top economic priority. The order initiated a government-wide effort to check corporate power, which Biden said has inflated consumer prices, depressed worker wages, and stifled innovation. The plan is based on a core Bidenomics<\/a> principle\u2014that robust competition will deliver real benefits for middle-class families burdened by inflation.<\/p>\n\n\n\n

What Is Bidenomics?<\/strong><\/h3>\n\n\n\n

Bidenomics<\/a> is a set of policies proposed by President Biden to grow the economy and support the middle class. The White House embraced the term<\/a> after several media outlets critical of the president\u2019s economic policies started using it in a negative way. Biden\u2019s team adopted and rebranded Bidenomics to highlight what he saw as the positive impacts of his economic policies and signal a departure<\/a> from Reaganomics\u2019 trickle-down policies<\/a>.\u00a0<\/p>\n\n\n\n

Bidenenomics centers on three key principles<\/strong><\/a>:<\/strong><\/p>\n\n\n\n

  1. Invest in America’s future.<\/li>
  2. Strengthen and support American workers to boost the middle class.<\/li>
  3. Encourage competition to reduce costs and support small businesses.<\/li><\/ol>\n\n\n\n

    Biden\u2019s Announced Competition Measures<\/strong><\/h3>\n\n\n\n

    In July, the White House Competition Council revealed new initiatives<\/a> building on the President\u2019s 2021 executive order, which promote competition in three areas:<\/p>\n\n\n\n