Sen. Warren and Rep. Ocasio-Cortez are teaming up on a proposal to halt mergers and acquisitions for large companies during the coronavirus pandemic.
WASHINGTON — Sen. Elizabeth Warren, D-Mass., and Rep. Alexandria Ocasio-Cortez, D-N.Y., are teaming up on a proposal to halt mergers and acquisitions for large companies during the, elevating a progressive cause as Democrats and apparent nominee Joe Biden craft the party's platform ahead of the 2020 election.
The “Pandemic Anti-Monopoly Act” would impose a moratorium on mergers and acquisitions involving large companies until the Federal Trade Commission “determines that small businesses, workers, and consumers are no longer under severe financial distress,” according to a summary of the proposal reviewed by NBC News.
Affected firms would include businesses with over $100 million in revenue or financial firms with market capitalization of over $100 million; private equity companies and hedge funds ; businesses that have an exclusive patent on products like personal protective equipment which pertain to the crisis; and other transactions are already required by law to be reported to the FTC.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
'Little or no transparency': Warren wants data on White House medical supply programNEW: Two Senate Democrats are probing 'Project Airbridge,' the Trump administration program aimed at getting medical supplies to hospitals amid the pandemic, warning the effort is too opaque.
Read more »
Elizabeth Warren Demands To Know How Kushner Is Directing Medical SuppliesElizabeth Warren and Richard Blumenthal are pressing the country's largest medical suppliers to shed light on an 'opaque' program.
Read more »
Warren Buffett's annual Berkshire Hathaway meeting will have only 2 participants this year, after breaking an attendance record in 2019 | Markets InsiderThis year, only Warren Buffett and vice chairman Greg Abel will be in attendance at the Berkshire Hathaway annual meeting, the company said Mond...
Read more »
One Rich New York Hospital Got Warren Buffett's Help. This One Got Duct Tape.NEW YORK -- It has been hours since the 71-year-old man in Room 3 of the intensive care unit succumbed to COVID-19, the disease caused by the coronavirus. His body has been cleaned, packed in an orange bag and covered in a white sheet, but the overextended transport team from the morgue has yet to arrive.The
Read more »
'One of the most ridiculous deals that I've ever seen': Carl Icahn blasted Occidental Petroleum's $10 billion financing from Warren Buffett again | Markets InsiderCarl Icahn blasted Occidental Petroleum's financing deal with Warren Buffett once again after the oil refiner paid its dividend to Berkshire Hat...
Read more »