This bill improves support for small businesses by requiring reports on how competition laws are enforced and their effects on small businesses.
Main Street Competes Act This bill requires the Department of Justice (DOJ) and the Federal Trade Commission (FTC) to separately report biennially to the Small Business Administration (SBA) on how such agency's enforcement of federal antitrust law has promoted competition and deterred anticompetitive conduct that harms small businesses. The reports must include the number of antitrust inquiries, investigations, and enforcement actions conducted by the agencies. Further, the SBA must report to Congress a summary of the DOJ and FTC reports that includes, as appropriate, recommendations for administration actions that may promote competition and deter anticompetitive conduct. The bill replaces a requirement that the President report annually to Congress about the role of small businesses in the economy on an industry-by-industry basis.
1. This bill requires government agencies to report on how antitrust laws affect small businesses. 2. Agencies must analyze and report on complaints from small businesses about unfair competition. 3. The bill promotes competition by addressing illegal mergers that harm small businesses. 4. Reports will be submitted every two years to ensure ongoing evaluation of small business conditions.