SACRAMENTO, CA (MPG) – Assembly Majority Leader Cecilia Aguiar-Curry announced Assembly Bill 1776 on Monday, introducing legislation she said would update California’s antitrust laws to address growing market consolidation and rising consumer costs.
The bill, titled the Competition and Opportunity in Markets for a Prosperous, Equitable and Transparent Economy Act, seeks to clarify state standards governing anti-competitive conduct and reaffirm that California courts are not bound by federal antitrust case law.
“When there’s less competition, prices go up and people pay more for goods and services,” Aguiar-Curry, D-Winters, said at a press conference. “The COMPETE Act updates our antitrust laws so businesses can compete fairly, ideas can succeed and Californians aren’t stuck with higher prices and fewer options.”
According to Aguiar-Curry’s office, AB 1776 reflects recommendations made by the California Law Revision Commission after three years of study and 17 public meetings. The bill would clarify that anti-competitive conduct by a single company can violate state law while preserving lawful business growth and investment.
Supporters argue that increased consolidation across major industries has limited consumer choice and driven up prices.
“Consumers are increasingly being squeezed by monopolies in all sorts of damaging ways, from higher prices and out of control fees to a lack of meaningful competition in key industries and lower wages and benefits,” said Robert Herell, executive director of the Consumer Federation of California. “The COMPETE Act will help provide California with the tools to turn this around.”
Labor leaders also voiced support. Dale Wentz, secretary-treasurer of Teamsters Local 150, said market concentration has weakened worker bargaining power. “Enough is enough,” Wentz said. “California should not be a playground for corporations to bully their way toward rapid expansion while working people are left behind.”
Mark Ramos, president of UFCW Western States and Local 1428, said consolidation has affected wages in the grocery industry. “Consolidation enables employers to suppress workers’ wages,” Ramos said. “UFCW is proud to support the COMPETE Act to see workers’ paychecks grow.”
Small business advocates said many independent operators struggle to compete against large corporations with broader market reach and resources.
“In a market dominated by corporations with limitless resources, the COMPETE Act is requisite to restoring fair competition,” said Bianca Blomquist, California director of Small Business Majority.
Assemblymember Damon Connolly, D-San Rafael, co-authored the bill and called it “a critical step toward creating a robust marketplace for consumers, workers and small businesses.”
The bill now heads to the Assembly for committee consideration.