To require pre-merger notification to identify entities subject to a collective bargaining agreement and affected labor organizations, to require post-merger monitoring for anticompetitive effects and antitrust violations, and for other purposes.
About This Bill
Committee
Latest Action · May 23, 2024
Read twice and referred to the Committee on the Judiciary.
The STOP Bad Mergers Act requires companies to provide detailed information about labor impacts when they notify federal authorities of planned mergers, including the number of unionized workers affected and contact information for labor organizations. After mergers are completed, the Federal Trade Commission and Department of Justice must monitor whether they harm workers through wage cuts, job losses, facility closures, or reduced bargaining power, treating such harms as potential antitrust violations alongside traditional concerns about higher prices or reduced competition. The bill gives labor organizations the right to submit documents to regulators within 20 days of a merger notification and requires federal agencies to respond meaningfully to their concerns, with the ability to extend review periods by 60 days if labor groups raise serious issues. The legislation also directs the Government Accountability Office to study how consolidation in manufacturing has affected unionized workers, jobs, and wages since 1975, and to examine the broader economic effects of reduced worker bargaining power in concentrated labor markets, with $5 million authorized for these studies.
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