For Immediate Release
Toronto, Ontario — In a concerted effort to champion the vitality of antitrust enforcement in the United States, Thexyz Inc., in collaboration with a diverse coalition of businesses and organizations, has taken a stand to ensure that competition continues to serve as the bedrock of innovation and economic prosperity. This alliance has voiced its concerns directly to Congress, highlighting significant issues within the FY2024 appropriations package for the Antitrust Division of the Department of Justice (DOJ).
The focal point of this advocacy is the alarming budgetary constraints proposed in the appropriations package, which pose a direct threat to the Antitrust Division’s ability to effectively enforce laws critical to maintaining a fair and competitive economic landscape. These constraints not only jeopardize the division’s core mission but also risk compromising the principles of competitive integrity and innovation — essential for the well-being of consumers and the business community at large.
The Need for Enhanced Resources
Central to this issue is the bipartisan Merger Filing Fee Modernization Act, designed to empower the Antitrust Division with essential resources through premerger filing fees. Despite the act’s clear objectives and broad support, the current appropriations package inadequately addresses the needs of the division, significantly hampering its capacity to tackle complex antitrust cases, particularly those involving the world’s largest corporations.
Unified Call to Action
Backed by influential figures including Senators Klobuchar and Grassley, as well as Representatives Nadler, Buck, and Neguse, the coalition’s call to action is unequivocal. It seeks not only to amend the FY2024 appropriations but also to ensure increased and unrestricted funding for FY2025, reinforcing the DOJ’s Antitrust Division’s role in upholding market competition.
Championing Competition for Economic Health
Competition is the engine of the U.S. economy, driving innovation, ensuring fair pricing, and providing consumers with diverse choices. By securing adequate funding for the agencies responsible for protecting competitive markets, the coalition aims to invest in the long-term vitality of the economy and the prosperity of its citizens.
Thexyz’s Commitment
Thexyz Inc. remains steadfast in its commitment to promoting a competitive marketplace, recognizing its importance not just to its own business but to the broader economic ecosystem. The company calls on its customers, partners, and industry peers to join in advocating for a robust antitrust enforcement framework that safeguards the dynamism and fairness of the U.S. economy.
In closing, the coalition appeals to the Committee on Appropriations to recognize the urgency of its request — not merely as a bid for funding, but as a plea for justice, fairness, and the sustenance of competitive markets that are fundamental to American innovation and economic success.
Contact:
Perry Toone
President
Thexyz Inc.
press@thexyz.com
