H.R. 8882: Main Street Competes Act

The Main Street Competes Act is a proposed legislation aimed at enhancing the competitiveness of small businesses in the United States. It seeks to amend the Small Business Economic Policy Act of 1980 with a focus on how federal antitrust laws affect small businesses.

Key Provisions

• Antitrust Enforcement: The bill emphasizes the need for strong enforcement of federal antitrust laws to deter and address anticompetitive conduct that harms small businesses. This includes illegal mergers that could negatively impact small businesses and their growth.
• Reporting Requirements: The heads of specified entities, such as the Department of Justice and the Federal Trade Commission, would be required to submit reports every two years detailing how their enforcement actions have promoted competition, specifically for the benefit of small businesses. These reports would cover various aspects, including:
  • The number of complaints regarding antitrust violations filed by small businesses.
  • The actions taken in response to these complaints.
  • Investigations and enforcement actions initiated beyond complaints from small businesses.
• Analysis and Recommendations: Following the submission of reports, the Chief Counsel for Advocacy of the Small Business Administration would analyze the findings and provide recommendations to improve competition and lessen anticompetitive behaviors that affect small businesses. The recommendations could involve both administrative and legislative actions aimed at promoting a more competitive business environment.

Definitions

The bill also includes definitions for clarity:

• Antitrust violation: Any breach of federal antitrust laws.
• Small business: Defined as per existing laws governing small business concerns.
• Specified entity: Refers to the Department of Justice and the Federal Trade Commission, the primary agencies involved in enforcing antitrust laws.

Goals of the Bill

The intention behind the Main Street Competes Act is to create an economic environment that:

• Promotes competitive markets and consumer choice.
• Supports the ownership and growth of small businesses.
• Ensures that large corporations do not engage in anticompetitive practices that could disadvantage smaller enterprises.

Implementation Timeline

Once enacted, the bill mandates that the first reports on the state of small business antitrust concerns be submitted within 180 days following the end of the fiscal year, and subsequently every two years.

Relevant Companies

None found.