A bill to require Federal departments and agencies to act in accord with a national policy of free and open competition in the economy.

Summary

Sets out as the findings and purpose of this Act, that it is the responsibility of the Federal Government to identify the effects on competition of its activities and to act to maximize and promote competition. Defines the terms used in this Act. Requires each department and agency of the Federal Government to prepare a competitive impact statement for proposals for legislation and any other major action significantly affecting competition in the markets of natural resources, communications and data processing, finance, transportation, agriculture, ferrous and nonferrous metals, and chemicals and drugs. Requires such statement to include: (1) the impact on competition of the proposed action; (2) any adverse competitive effects which cannot be avoided should the action be taken; (3) alternatives to the proposed action; and (4) the degree to which countervailing considerations of economic, environmental, or social policy justify the adverse competitive aspects of the proposal. Directs each department and agency to take other actions to insure that the promotion of competition will be given appropriate consideration in decisionmaking. Prohibits the taking of any action which would violate the policies of the antitrust laws or of this Act unless necessary to accomplish a statutory objective or requirement of the agency. Requires each department or agency to recommend to the President and the Congress not later than July 1, 1976 such measures as may be necessary to bring its authority and policies into conformity with the purposes and provisions of this Act. Directs the Federal Trade Commission to report annually to the President and the Congress on the state of competition in the national economy in the markets specified above. Requires each agency to include in its annual report the state of competition in those industries subject to its regulation, and agency actions designed to foster competition in markets affected by such agency. Exempts from the provisions of this Act Federal agency action taken to promote public health or safety. Allows the Federal courts to hear claims against any agency relating to the provisions of this Act without regard to the amount in controversy. Makes this Act effective 120 days after the date of enactment.

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Documents

1 official file

• Introduced in Senate

  summary · EN · 19 December 1974

  Open at official source

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