Jayapal, Deluzio, Ryan, Craig Launch Monopoly Busters Caucus
WASHINGTON, DC — U.S. Representatives Pramila Jayapal (WA-07), Chris Deluzio (PA-17), Pat Ryan (NY-18), and Angie Craig (MN-02) are today launching the Monopoly Busters Caucus, a new caucus with nine Founding Members to fight corporate greed and promote a pro-worker, pro-consumer, and pro-small business economic agenda.
“Something is wrong in this country when families go to the grocery store and can’t afford milk or eggs or cereal. As people struggle under the weight of inflation, corporate profits are higher than ever,” said Jayapal. “From rent to groceries, to health care — life in America has become unaffordable. The answer to why is simple: corporate monopolies. When we take on corporate power, we can make a meaningful difference in the everyday lives of working people across the country – and we must, the American people are counting on us.”
“Monopolies have been rigging the system, crushing competition and small businesses, and ripping off the American people for decades. And for too long, politicians in Congress have let it happen,” said Congressman Deluzio. “We’re launching the Monopoly Busters Caucus today because we think that it’s long overdue for Congress to step up to take on consolidated corporate power and to reinvigorate American capitalism with competition. It’s our duty to help take the squeeze off of America’s workers, small businesses, and consumers and pave a path back to the American Dream. It’s time to get real, patriotic competition back in our economy.”
“When I talk with folks in the Hudson Valley, the number one thing I hear is frustration. Frustration that even though they’re working hard and doing everything that’s asked of them, they can’t afford to provide for their family – housing, health care, gas, groceries, utilities. It’s inherently un-American that only a select few are able to live out the American dream,” said Congressman Pat Ryan. “The reason for this is clear – in every one of those industries, we’ve let monopolies drive up costs and drive down quality, all while making record breaking profits. We’re gonna fight back against these big and powerful corporations, hold the bad actors accountable, and ultimately put power back where it belongs: with the American people.”
“As the top Democrat on the House Agriculture Committee, I have seen firsthand how consolidation in the ag industry is squeezing our family farmers and producers – and driving up costs for consumers too,” said Rep. Craig. “At a time when the Administration is launching our country headfirst into a global trade war, it’s more important than ever that we uplift small and local businesses right here at home. I’m proud to be joining Representatives Jayapal, Ryan and Deluzio to fight consolidation, strengthen the middle class and lower costs for producers and consumers.”
Throughout the pandemic and the inflation that followed, there was consistent reporting of large corporations price-gouging consumers, something they could do thanks to near-monopoly consolidation in many industries. For instance, in the cases of beef, baby food, pasta, and soda, more than 80 percent of the market is controlled by four companies. Rigorous enforcement of our antitrust laws can fix this consolidation and ensure that our markets work for all people.
The Caucus’s founding Members represent a large swath of the ideological makeup of the Democratic Party, highlighting the unity around a strong economic prosperity message. Joining the co-chairs in founding the Caucus are Becca Balint (VT-AL), Greg Casar (TX-35), Maggie Goodlander (NH-02), Val Hoyle (OR-04), Kristen MacDonald Rivet (MI-08), Jerrold Nadler (NY-12), Alexandria Ocasio-Cortez (NY-14), Jan Schakowsky (IL-09), and Nydia M. Velázquez (NY-07).
The full livestreamed launch event can be watched here.
Issues: Science, Technology, & Antitrust