This morning, the White House Competition Council held its inaugural meeting. The Council’s members – including eight cabinet members and the leaders of seven independent agencies – met to discuss the actions they are taking to help lower prices for American families by boosting competition and to plan the group’s priorities over the coming months.
July 9 Executive Order on Promoting Competition in the American Economy
established the Competition Council to drive forward the
Administration’s whole-of-government effort to promoting competition.
The Council’s mandate includes delivering on the 72 initiatives
identified in the Executive Order, collaborating on addressing pressing
competition problems across the economy, and finding new ways of
delivering concrete benefits to America’s consumers, workers, farmers,
and small businesses. As of today, agencies have met each deadline
set forth in the Executive Order.
In the Council’s inaugural meeting, NEC Director Brian Deese (Council Chair) emphasized that the President’s competition agenda is core to the Administration’s plan to Build Back Better and critical to keeping prices low for American consumers, spurring innovation, and allowing small businesses to compete on a level playing field. He commended the Council members on the over a dozen initiatives they have already taken to promote competition and help lower costs for Americans in the two months since the Order was signed. Middle-class Americans will feel the impact at the grocery store, when they travel to see loved ones, when they shop for internet plans, and when they purchase the medicine they need to stay healthy.
Council members received briefings from the Department of Health and Human Services, the Department of Justice, the Federal Trade Commission, and the Department of Agriculture on their recent efforts to bolster competition across key industries. The Competition Council also welcomed two new members – Chair Gary Gensler of the Securities and Exchange Commission and Acting Chair Rostin Behnam of the Commodity Futures Trading Commission.
Director Deese closed the meeting by outlining how the Competition Council will work together over the coming months and years to restore competition to the heart of American capitalism and deliver concrete benefits to American families. He also called on agencies to identify new ways to promote competition beyond those outlined in the Executive Order in advance of the Council’s next convening.
Participants in today’s meeting included: