Amy Klobuchar on Corporations DFL Sr Senator (MN); Democratic presidential contender

Consolidations like "Beerhemoth" can hurt craft brewers

How courts define market may limit application of antitrust

More effective to rebrand antitrust as "competition policy"

Shift burden of proof to companies on megamerger's impact

1. restore the original purpose of the antitrust laws to prevent anticompetitive mergers;
2. shift the burden of proof for megamergers and dominant firm mergers to the consolidating parties to prove that the merger does not harm competition;
3. create the office of the competition advocate to encourage antitrust investigations and to analyze and publish reports on merger activity; and
4. add the term "monopsony" to the Clayton Act so that it is clear that single buyers controlling a market can be found to violate the law.

Companies owned by same shareholders akin to trusts

Ban antitrust violators from working in the same industry

Consolidation of business leading to startup slump

Update law, but treat tech companies on case by case basis

A: I've been trying to use antitrust law and make changes there. Some of them you may spin off parts of the companies, some of them you may break off. But I think you should do it by getting those things investigated and figure out which company is doing what. I would then change the law so that no longer does the government have to prove that it reduces competition; the companies have to prove that they don't materially reduce competition.

Put burden of proof on competitiveness on companies

I helped avoid closing 28 profitable MN car dealerships

Screen imports & ban lead in children's products.

A bill to reform the Consumer Product Safety Commission to provide greater protection for children`s products, to improve the screening of non-compliant consumer products, to improve the effectiveness of consumer product recall programs, and for other purposes.

• Requires third party certification of, and provides for tracking and record keeping regarding, children`s products.
• [Increase] reporting of substantial product hazards and corrective action plans.
• Requires certain manufacturers or distributors to post an escrow or proof of insurance to cover recalls.
• Allows enforcement by state attorneys general and provides public and private sector whistleblower protections.
• Bans children`s products containing lead and lowers the allowable lead content in paint.
• Requires a study of preventable injuries and deaths of minority children related to consumer products.
• Requires a cost-benefit analysis under the Poison Prevention Packaging Act.
• Requires development of a risk assessment methodology regarding imports.
• Requires publication of a list of product defects that constitute a substantial product hazard.
• Conditions importation of a consumer product on the manufacturer`s compliance with inspection and record keeping requirements.
• Requires a database on violations of consumer product safety rules to be used to determine whether a container being imported contains consumer products that are in violation of a consumer product safety standard and whether action should be taken under imported products provisions.

Rated 86% by UFCW, indicating an anti-management/pro-labor record.

The United Food and Commercial Workers International Union (UFCW) is North America`s Neighborhood Union--1.3 million members with UFCW locals in all 50 states, Puerto Rico and Canada. Our members work in supermarkets, drug stores, retail stores, meatpacking and meat processing plants, food processing plants, and manufacturing workers who make everything from fertilizer to shoes. We number over 60,000 strong with 25,000 workers in chemical production and 20,000 who work in garment and textile industries.

The UFCW Senate scorecard is based on these key votes:
1. American Jobs Act (+)
2. Balanced Budget Amendment (-)
3. Rejecting Cut, Cap, and Balance (+)
4. Repeal Health Care Law (-)
5. Sen. Am. 14 Wicker Am. to S 223, excluding unionization at TSA (-)
6. Sen. Am. 740 McCain Am. to HR 2112, defunding TAA (-)
7. Trade Adjustment Assistance Extension Act (TAA) (+)

Deregulating banks encourages discriminatory practices.

Congressional Summary:

Economic Growth, Regulatory Relief, and Consumer Protection Act
• TITLE I--IMPROVING CONSUMER ACCESS TO MORTGAGE CREDIT: [for small banks,] requirements are waived if a loan is originated by and retained by the institution
• TITLE II--REGULATORY RELIEF AND PROTECTING CONSUMER ACCESS TO CREDIT: [deregulate] reciprocal deposits [if they] do not exceed 20% of its total liabilities.
• TITLE III--PROTECTIONS FOR VETERANS, CONSUMERS, AND HOMEOWNERS
• TITLE IV--TAILORING REGULATIONS FOR CERTAIN BANK HOLDING COMPANIES
• TITLE V--ENCOURAGING CAPITAL FORMATION
• TITLE VI--PROTECTIONS FOR STUDENT BORROWERS

Supporting press release from Rep. Tom Emmer (R-MN-6): This legislation will foster economic growth by providing relief to Main Street, tailor regulations for better efficacy, and most importantly it will empower individual Americans and give them more opportunity.

Opposing statement on ProPublica.org from Rep. Gregory Meeks (D-NY-5): The bill includes many provisions I support: minority-owned banks and credit unions in underserved communities have legitimate regulatory burden concerns. Unfortunately, exempting mortgage disclosures enacted to detect discriminatory practices will only assist the Trump Administration in its overall effort to curtail important civil rights regulations. I simply cannot vote for any proposal that would help this Administration chip away at laws that I and my colleagues worked so hard to enact and preserve.

Legislative outcome: Passed House 258-159-10 on May 22, 2018(Roll call 216); Passed Senate 67-31-2 on March 14, 2018(Roll call 54); Signed by President Trump. May 24, 2018

Reducing tax rates balloons federal deficit & cuts programs.

Summary by GovTrack.US: (Nov 16, 2017)

For Corporations:
• Reduce the corporate tax rate to 21% from 35%.
• Overseas earnings would be taxed at 15.5% as opposed to the current 35%. This may seem like an enormous reduction, but current law only taxes overseas earnings if they are returned to the US; the 15.5% rate would apply regardless.

For Individuals:
• Lower the rate for the highest earners from 39.6% to 37%.
• Nearly double the standard deductions for individuals but repeal personal exemptions.
• The Affordable Care Act`s individual mandate would be repealed.

Case for voting NO by Sierra Club (11/16/17): Republicans have passed a deeply regressive tax plan that will result in painful cuts to core domestic programs, to give billionaires and corporate polluters tax cuts while making American families pay the price. Among the worst provisions: