{"@context":"https://schema.org","@type":"Legislation","name":"TEAM Act","description":"

Tougher Enforcement Against Monopolists Act or the TEAM Act

This bill makes various changes with respect to the enforcement of federal antitrust laws.

Specifically, the bill consolidates antitrust enforcement authority in one agency by transferring all Federal Trade Commission (FTC) antitrust functions, employees, assets, and funding to the Department of Justice (DOJ). The bill also transfers to DOJ the responsibility for reviewing specified communications transactions that is currently the duty of the Federal Communications Commission.

Additionally, the bill modifies and expands the schedule for graduated merger filing fees and requires that such fees be adjusted each year based on the U.S. Gross National Product. The bill also establishes certain presumptions that a merger substantially lessens competition under specified circumstances, and it revises the premerger notification requirements.

The bill further requires the Office of Information and Regulatory Affairs of the Office of Management and Budget, in reviewing a significant regulatory action of an agency, to submit an impact statement to the agency identifying how the regulatory action may impact competition in the market to which the regulation applies.

The bill grants antitrust immunity to state occupational licensing boards in states that satisfy specified occupational licensing law requirements. To meet these requirements a state must either (1) adopt certain licensing policies and actively supervise such boards, or (2) provide for judicial review of occupational licensing laws.

Finally, the bill makes other modifications to antitrust enforcement such as (1) permitting DOJ to recover triple damages in actions brought on behalf of consumers, and (2) providing for civil fines for knowing violations of antitrust laws.

","legislationIdentifier":"S 2039","legislationType":"Bill","legislationLegalForce":"NotInForce","legislationJurisdiction":"USA","author":[{"@type":"Person","name":"Mike Lee","url":"https://legisdaily.com/mp/mike-lee-us"}],"about":{"@type":"Thing","name":"Commerce"},"keywords":"Administrative law and regulatory procedures, Administrative remedies, Civil actions and liability, Competition and antitrust, Congressional oversight, Consumer affairs, Corporate finance and management, Criminal investigation, prosecution, interrogation, Department of Justice, Economic performance and conditions, Evidence and witnesses, Executive agency funding and structure, Federal Communications Commission (FCC), Federal Trade Commission (FTC), Financial services and investments, Government employee pay, benefits, personnel management, Government information and archives, Government liability, Government studies and investigations, Inflation and prices, Interest, dividends, interest rates, Intergovernmental relations, Internet, web applications, social media, Judicial review and appeals, Jurisdiction and venue, Legal fees and court costs, Licensing and registrations, Military personnel and dependents, Public contracts and procurement, Securities, State and local government operations, Unemployment, User charges and fees","dateModified":"2025-01-03T00:00:00.000Z","url":"https://legisdaily.com/bill/USA-117-S-2039"}

Mike Lee

Judiciary Committee

Mike Lee

Judiciary Committee