In an era where competition is the cornerstone of innovation and economic growth, ensuring the vigor of antitrust enforcement in the United States has never been more crucial. Thexyz Inc., along with a coalition of businesses and organizations, is at the forefront of advocating for robust antitrust measures. Our collective voice recently resonated through the halls of Congress in a letter addressed to key members of the Committee on Appropriations, urging them to rectify the concerning inadequacies in the FY2024 appropriations package allocated for the Antitrust Division of the Department of Justice.
The crux of our concern lies in the proposed budgetary constraints that threaten to undermine the Antitrust Division’s capability to enforce laws designed to maintain fairness and competition within the U.S. economy. Such restrictions not only impede the division’s mission but also compromise the foundational principles of competitive integrity and innovation that benefit consumers and businesses alike.
The Imperative for Increased Funding
The bipartisan Merger Filing Fee Modernization Act, heralded for its intention to bolster the Antitrust Division with necessary resources through premerger filing fees, stands at the heart of this issue. Despite its clear intent and bipartisan support, the FY2024 appropriations package falls short of ensuring that these critical funds are accessible to the division. This oversight is more than a budgetary misstep; it represents a significant barrier to the division’s ability to take on increasingly complex antitrust cases, especially those involving some of the largest and most influential companies in the world.
A Call to Action
Our coalition’s message, endorsed by influential voices such as Senators Klobuchar and Grassley, along with Representatives Nadler, Buck, and Neguse, is a clarion call for action. We are not merely requesting adjustments; we are demanding a commitment to rectify the appropriations for FY2024 and to secure increased funding for FY2025. This is not just about numbers on a budget line; it’s about empowering the Antitrust Division to fulfill its mission effectively.
The Role of Competition in Our Economy
Competition is the lifeblood of the U.S. economy. It drives innovation, ensures fair pricing, and guarantees that consumers have access to a broad range of services and products. By adequately funding the entities tasked with safeguarding this competition, we are investing in the future health of our economy and the prosperity of all Americans.
Thexyz’s Pledge
At Thexyz, we understand the importance of a competitive marketplace, not just for our business, but for the broader ecosystem in which we operate. Our support for this cause is unwavering, and we stand ready to advocate for the principles that ensure our economy remains vibrant and fair. We call upon our customers, partners, and peers in the industry to join us in this critical endeavor.
In conclusion, our appeal to the esteemed members of the Committee on Appropriations is more than a request for funding; it’s a plea for justice, fairness, and the preservation of competitive markets. We urge the committee to heed our call, support the Antitrust Division, and by extension, support the fundamental values that drive American innovation and economic success.
View the Press Release.
