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Labor Unions, Advocates Applaud New York State Senate for Passing Anti-Monopoly Bill; Urge Assembly, Governor Hochul to Take Action

Today, unions and advocates applauded the New York State Senate for passing the 21st Century Antitrust Act, trailblazing legislation that updates the state’s outdated monopoly laws; levels the playing field for workers, consumers, and small businesses; and makes New York a leader in the fight to rein in corporate power. New Yorkers for a Fair Economy, the coalition of labor unions, small businesses, and community organizations behind the bill, led by ALIGN, also urged the Assembly and Governor Hochul to take swift action to pass the legislation. 

NEW REPORT Endorsed by State Legislators Highlights Urgency of 21st Century Antitrust Act for New York Small Businesses

With the Bureau of Labor Statistics announcement last week that annual inflation remained elevated at 8.3% percent in April, small businesses continue to face threats from all sides of the market. Champions of the 21st Century Antitrust Act have signed on to a new report that makes clear that large corporations wielding their market power is a primary culprit. Whether it is credit card giants increasing the transaction fees they charge New York’s neighborhood bodegas and retailers, or suppliers raising prices on independent businesses in response to being squeezed for special discounts by dominant corporations, small businesses are increasingly at risk.