Pisciottano introduces bill to fight corporate greed
Open Markets Act would protect consumers, workers and small businesses
HARRISBURG, Feb. 9 – New legislation to prohibit anti-competitive business practices like artificial price fixing has been introduced in the Pennsylvania House, state Rep. Nick Pisciottano announced today.
The Open Markets Act (H.B. 2012) would strengthen the power of the state attorney general to investigate companies that attempt to monopolize in Pennsylvania and increase penalties for price gouging, collusion and other anti-competitive behaviors.
“Allowing large corporations to get away with predatory business practices that restrict competition like price gouging is a big part of why the middle class is disappearing,” said Pisciottano, D-Allegheny. “Putting economic power back in the hands of working people starts with establishing mechanisms that enable us to hold bad actors accountable, and that’s exactly what the Open Markets Act is designed to do.”
Pisciottano said current antitrust laws in the state are uniquely weak and the need for legislation like the Open Markets Act is further demonstrated by the “Greedflation” report published by U.S. Sen. Bob Casey, D-PA, in 2023.
“The cost of living has skyrocketed in recent years, wages have not, and many companies are reporting record profits. A lot of people who work for a living are feeling strongly that the current economy is rigged against them. It’s now clear that inflation is not the sole cause of rising prices and we need stronger state laws to protect consumers, workers and small businesses here in Pennsylvania.”
Pisciottano announced the bill in November and it has now been officially introduced in the Pennsylvania House of Representatives.