Legislation under consideration in Albany and Washington, D.C., if enacted, may mark the beginning of a new era of antitrust enforcement. The bills and resulting legislative activity are largely in response to the perceived inadequacy of 20th century antitrust laws to address 21st century issues, particularly those in the technology sector. To that end, lawmakers appear eager to pare down the influence of large companies and ease plaintiffs’ (including the government’s) burdens in antitrust cases while also permitting enhanced government enforcement action. The resulting legislation, while still far from black letter law and facing steep challenges at the federal level, is indicative of growing wariness by legislators with available antitrust measures in an environment where the antitrust laws and actions are increasingly in the spotlight and increasingly viewed as political football.
Twenty-First Century Anti-Trust Act (S933A)
In June, the New York State Senate passed the Twenty-First Century Anti-Trust Act. The Act was born out of a “concern for the growing accumulation of power in the hands of large corporations” and seeks “to update, expand and clarify [New York] laws to ensure that these large corporations are subject to strict and appropriate oversight by the state.” The bill was still under consideration by the New York State Assembly at the close of the legislative session later that month, but it is likely to be reintroduced in both chambers at the beginning of the next session. If passed and signed into law by the governor, the Act would revamp antitrust law in New York.
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