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Biden targets airlines, internet, hearing aids, phone repairs and more in new order
Biden delivers remarks, signs executive order on promoting competition in American economy
Pres Biden delivers remarks and signs an executive order on promoting competition in the American economy.
President Joe Biden on Friday issued a new executive order aimed at boosting competition in various industries, targeting products and services like airline refunds, internet bills, hearing aids and more.
The executive order contains 72 actions and recommendations meant to promote innovation across various sectors of the economy from tech to health care to agriculture, and thereby improve workforce conditions and drive costs down, according to a White House fact sheet.
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"The heart of American capitalism is a simple idea: Open and fair competition," Biden said in remarks at the White House, shortly before signing the order. "That means if your companies want to win your business, they have to go out and they have got to up their game. Better prices and services, better ideas and products. The competition keeps the economy moving and it keeps it growing. A competitive economy must mean that companies do everything they can to compete for workers."
Here are some of the products and services the Biden administration is targeting in an effort to boost competition and consumer choices:
The White House noted in its fact sheet that reduced competition among airlines has resulted in higher baggage and cancelation fees despite millions of instances of delayed baggage each year.
The administration is directing the DOT to consider issuing rules requiring airlines to refund fees when baggage is delayed or when a service like in-flight WiFi does not work. It is also recommending the DOT implement rules requiring baggage, flight change and cancellation fees to be "clearly disclosed to the customer."
The Biden administration believes that cracking down on broadband services will boost competition, especially for Americans living in rural areas, giving consumers more options and driving down internet costs.
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It is calling on the FCC to ensure internet service providers are offering fair prices by requiring them to report prices and subscription rates to the commission, and to limit high early cancellation fees.