TEAM Act

Summary

Tougher Enforcement Against Monopolists Act or the TEAM Act This bill makes various changes with respect to the enforcement of federal antitrust laws. Specifically, the bill consolidates antitrust enforcement authority in one agency by transferring all Federal Trade Commission (FTC) antitrust functions, employees, assets, and funding to the Department of Justice (DOJ). The bill also transfers to DOJ the responsibility for reviewing specified communications transactions that is currently the duty of the Federal Communications Commission. Additionally, the bill modifies and expands the schedule for graduated merger filing fees and requires that such fees be adjusted each year based on the U.S. Gross National Product. The bill also establishes certain presumptions that a merger substantially lessens competition under specified circumstances, and it revises the premerger notification requirements. The bill further requires the Office of Information and Regulatory Affairs of the Office of Management and Budget, in reviewing a significant regulatory action of an agency, to submit an impact statement to the agency identifying how the regulatory action may impact competition in the market to which the regulation applies. The bill grants antitrust immunity to state occupational licensing boards in states that satisfy specified occupational licensing law requirements. To meet these requirements a state must either (1) adopt certain licensing policies and actively supervise such boards, or (2) provide for judicial review of occupational licensing laws. Finally, the bill makes other modifications to antitrust enforcement such as (1) permitting DOJ to recover triple damages in actions brought on behalf of consumers, and (2) providing for civil fines for knowing violations of antitrust laws.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 14 June 2021

   Introduced

   Read twice and referred to the Committee on the Judiciary. (Sponsor introductory remarks on measure: CR S4519-4520)

   Source: IntroReferral

2. 14 June 2021

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 14 June 2021 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 14 June 2021

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 14 June 2021

  ViewDownloadOpen at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

• Introduced in Senate

  summary · EN · 14 June 2021

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Lee, Mike [R-UT] · R · Sponsor
• Sen. Grassley, Chuck [R-IA] · R · Sponsor
• · ssju00 · Standing

Related records

• related to → One Agency Act
• related to → RBI Act
• related to → Merger Filing Fee Modernization Act of 2021
• related to → One Agency Act
• related to ← Merger Filing Fee Modernization Act of 2022