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Hudson Valley Congressman Pat Ryan has announced the launch of the Monopoly Busters Caucus, a new initiative aimed at tackling corporate monopolies and promoting a pro-worker, pro-consumer, and pro-small business agenda. During a press conference on Wednesday (April 9), Ryan emphasized the frustration he hears from constituents in the Hudson Valley, who struggle to afford essentials like housing, healthcare, and groceries despite working hard.
Ryan, alongside U.S. Representatives Pramila Jayapal, Chris Deluzio, and Angie Craig, aims to address the issue of monopolies driving up costs and reducing quality in various industries. Ryan stated, "It's inherently un-American that only a select few are able to live out the American dream," and stressed the need to hold powerful corporations accountable and return power to the American people.
According to Ryan's office, the Caucus will focus on rigorous enforcement of antitrust laws to combat market consolidation, which has allowed corporations to price-gouge consumers. The Caucus's founding members include a diverse group of Democratic representatives, highlighting a unified message of economic prosperity.
Congresswoman Jayapal remarked on the impact of corporate monopolies on affordability, stating, "When we take on corporate power, we can make a meaningful difference in the everyday lives of working people across the country." The Caucus plans to address issues in industries where market control is heavily concentrated, such as beef, baby food, pasta, and soda, where over 80% of the market is controlled by four companies.
The Caucus's formation comes amid broader discussions about corporate influence and market fairness, with Ryan's office noting that these efforts are crucial to reinvigorating American capitalism with competition.