Congress cowers to thieving parasites on antitrust funding

This is rather appalling, though there's still time for it to be corrected.

Heading into the State of the Union address, the White House is placing a big bet on competition policy to tackle some of the biggest challenges in the economy. (On Monday), the administration announced the creation of an interagency Strike Force on Unfair and Illegal Pricing, co-chaired by Federal Trade Commission chair Lina Khan and Justice Department Antitrust Division head Jonathan Kanter. Together, Khan and Kanter will coordinate efforts across the government to target companies engaged in pricing activities that violate laws around fraudulent and deceptive practices, or unfair methods of competition. The goal is to reduce prices in sectors where tricks and traps are prominent, from health care to housing to financial services.

“Competition delivers real results to real people, that’s precisely what we are doing,” said Kanter on a press call on Monday. “And we’re doing it with fewer people than we had in 1979.”

That last bit was a tell, a flash of frustration at a development over the weekend, pushed by a bipartisan group of appropriators, that could lead to a dramatic cut in the Antitrust Division’s budget, precisely at the time when the Biden administration is elevating its work—relying on it, even—in advance of the election. While some members of Congress are furious about it, the White House seems to be resigned to the outcome. - The American Prospect