News from the Capital, they are trying to reduce prescription costs and stop the (pay to delay) this all could help Elite
Fortune
Biden proposes regulations on tech and health care in executive order
Justin Sink
Fri, July 9, 2021, 4:30 PM·3 min read
President Joe Biden will sign a sweeping executive order designed to promote competition across American industries, calling on regulators to increase scrutiny of technology companies, drug prices, shipping and more.
The president’s action will prompt the federal government to set new regulations on everything from airline luggage fees to non-compete clauses, according to a White House fact sheet. He will sign the order later Friday after delivering remarks on the American economy.
The order will direct federal agencies to scrutinize tech companies’ use of consumer data and more closely examine industry mergers, in a nod to concerns that companies like Facebook Inc., Amazon.com Inc., Apple Inc. and Alphabet Inc.’s Google use that data to gain excessive market power.
The order will also ask the Federal Communications Commission to reinstitute net neutrality rules that barred internet providers from blocking or slowing certain content or speeding up delivery for a price. Those rules had been implemented under former President Barack Obama but rolled back under former President Donald Trump.
The tech-heavy Nasdaq 100 futures index was little changed early Friday after fluctuating between gains and losses. Other U.S. index futures advanced.
The president will also call on federal health officials to increase work to drive down prescription drug prices by working with states to come up with plans to import medicines from Canada, where they are cheaper. Trump had also encouraged that idea.
Biden will urge the FTC to stop pharmaceutical manufacturers from paying their generic counterparts to delay entry of lower-price versions of medications into the market. That idea is part of pending legislation in the Senate and aligns with campaign promises Biden made last year.
