President Biden will sign a sweeping executive order on Friday, aimed at promoting competition in the economy through 72 initiatives cracking down on anti-competitive practices in multiple industries.
The order aims to bolster competition and make broadband services affordable, encourage innovation and competition among tech companies, address prescription drug pricing, allow hearing aids to be sold over the counter at drug stores, ban or limit noncompete agreements for workers, and make it easier for people to get refunds from airlines, among other provisions.
In a fact sheet released by the White House Friday morning, the Biden administration said that anti-competitive practices across industries have driven up prices, made it harder for employees to bargain for a better wage, and stunted economic growth.
The executive order will direct over a dozen federal agencies to implement these 72 initiatives to promote competition in the U.S.
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