The Washington PostDemocracy Dies in Darkness

Opinion Ms. Klobuchar’s bill would harm small businesses

Sen. Amy Klobuchar (D-Minn.) speaks at President Biden’s inauguration on Jan. 20.
Sen. Amy Klobuchar (D-Minn.) speaks at President Biden’s inauguration on Jan. 20. (Jonathan Newton/The Washington Post)
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The Feb. 9 editorial “Competition policy for the 21st century” minimized the destructive potential of Sen. Amy Klobuchar’s (D-Minn.) Competition and Antitrust Law Enforcement Reform Act.

This bill is anything but moderate. It would flip our process of justice on its head, further entrench big businesses and make it harder for small businesses to raise funding and merge. In fact, Ms. Klobuchar’s proposal would enable the potential loss of hundreds of American businesses and the thousands of accompanying jobs in every sector of our economy. It would discourage the next big idea and impede every investor and entrepreneur from investing in their dream project. By limiting small businesses from accessing start-up capital, everything from microbreweries to clothing brands would see investment funding disappear. And it would make it so that some failing businesses could not merge to survive.

As American businesses work to recover from the economic ravaging of the coronavirus, this bill threatens to halt innovation at a time when new ideas and fresh approaches are more important than ever. It would shackle the American economy just when we’re struggling to keep our head above water.

Carl SzaboWashington

The writer is vice president
at NetChoice, a trade organization.

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