In a move that should be viewed with a high degree of skepticism, the Biden administration is working on an executive order directing agencies to strengthen oversight of industries they believe to be controlled by a small number of companies. The move is curious, and somewhat at odds with, the cozy big government-big business relationship within the administration.
This could be seen as either a legitimate attempt to rein in big business power, ultimately threatening large companies, or as a purely symbolic act to appease the Sanders/AOC sect of the Democratic party.
The order, which Biden could sign as early as next week, would direct industry regulators to rethink their rule-making process to inject more competition, and to give consumers, workers and suppliers more rights to challenge large producers, the Wall Street Journal reports.
The Journal also speculated Big business groups and Republicans will likely push back against a measure of this kind, even challenging the rules in court.
While no final decision has been made on the order, according to White House spokeswoman Emilie Simons, Biden has long wanted the government to do more to limit business dominance.