Restoring Competition, Restoring Opportunity

In Part I, we talked about a challenge that affects nearly every American household: the growing concentration of economic power in the hands of fewer and fewer corporations.

It’s a trend that has touched nearly every corner of our economy. From agriculture and health care to technology and retail, many industries have become increasingly consolidated over the past several decades.

The result is something many Hoosiers experience every day.

Higher prices
Fewer choices
More barriers for small businesses
Less competition

Recognizing the problem is important. Solving it is even more important.

That’s why Kelly Thompson’s proposal to reform securities regulation focuses on practical steps Congress can take to strengthen competition, increase transparency and ensure our economy continues to work for consumers, workers and entrepreneurs, not just the largest corporations and investment firms.

As your representative in Congress, Kelly believes these reforms should be a priority not only for Indiana but for the entire country.

Modernizing Antitrust Laws for the 21st Century

Many of America’s antitrust laws were written more than a century ago. The Sherman Antitrust Act became law in 1890. The Clayton Act followed in 1914. While these laws remain important tools, today’s economy looks dramatically different from it did when Theodore Roosevelt was breaking up trusts.

Modern corporations often operate across multiple industries. Investment firms can own substantial stakes in competing companies. Technology platforms can influence entire markets through data, algorithms and digital infrastructure.

Kelly’s proposal would update federal antitrust enforcement to reflect those realities.

One major focus is strengthening oversight of mergers and acquisitions to prevent them from reducing competition. Too often, regulators review transactions one at a time while overlooking broader patterns. A company may acquire several smaller competitors over the years, with each transaction appearing relatively minor on its own. Taken together, however, those acquisitions can dramatically increase market concentration. These so-called “creeping acquisitions” deserve greater scrutiny. For consumers, this matters because less competition often leads to higher prices and fewer choices. For small businesses, it can mean fewer opportunities to enter markets and compete fairly. For workers, it can mean fewer employers competing for talent, which can suppress wages and benefits.

As a member of Congress, Kelly would support legislation that modernizes antitrust standards and gives regulators stronger tools to identify anti-competitive behavior before it harms consumers.

Addressing the Growing Influence of Massive Investment Firms

One of the lesser-known challenges facing today’s economy involves common ownership. A relatively small number of institutional investors hold significant stakes across large portions of the American economy.

These investments are legal and often beneficial to retirement accounts and long-term investors. However, policymakers should better understand how concentrated ownership can affect competition between companies operating within the same industry.

Kelly’s proposal calls for increased transparency and oversight in these situations. The goal is not to punish investment or discourage retirement savings. The goal is accountability.

Consumers deserve confidence that competition remains genuine and that market structures are not quietly evolving in ways that reduce choice and innovation. As Congress continues evaluating competition policy, understanding the role of institutional investors should be part of that conversation.

Bringing Greater Transparency to Corporate Ownership

Americans have a right to know who controls the corporations that shape our economy. Transparency is one of the most effective tools for preventing anti-competitive conduct. When ownership structures become increasingly complex, regulators, shareholders and the public can struggle to understand who is making decisions and where influence is concentrated.

Kelly’s proposal would strengthen disclosure requirements related to corporate ownership, large investment positions and voting influence. That transparency benefits everyone. Investors can make better-informed decisions. Regulators can identify emerging risks. Consumers gain greater confidence that markets are operating fairly. Policymakers can better understand where economic power is concentrated before problems become systemic.

For Hoosiers, transparency means greater accountability from institutions whose decisions can affect local jobs, local businesses and community investment.

Updating Competition Policy for the Digital Age

Some of the most important economic battles of the next generation will involve technology. Digital platforms, artificial intelligence, data collection and online marketplaces increasingly influence how Americans work, shop and communicate. Many existing regulations were written before these technologies existed.

Kelly believes Congress has a responsibility to ensure competition policy evolves alongside innovation. That means examining whether dominant companies are using their market positions to disadvantage competitors, suppress emerging businesses or limit consumer choice. It also means recognizing that data itself has become a powerful economic asset.

When a small number of companies control enormous amounts of information, they can gain advantages that are difficult for competitors to overcome. Congress must ensure innovation remains open, competitive and accessible. The objective is not to punish success. The objective is to preserve an environment where the next generation of entrepreneurs can compete and succeed.

Indiana has a growing technology sector, innovative startups and entrepreneurial talent throughout the state. Maintaining competitive markets helps ensure those businesses have opportunities to grow rather than being crowded out by dominant players.

Giving Regulators the Tools to Do Their Jobs

Even the best laws are ineffective if they cannot be enforced.

That’s why Kelly’s proposal includes increased support for agencies such as the Securities and Exchange Commission, the Federal Trade Commission and the Department of Justice Antitrust Division. These agencies are responsible for protecting competition, investigating misconduct and ensuring markets operate fairly. Yet the economy has become increasingly complex while regulatory resources have often struggled to keep pace.

Kelly believes effective oversight protects honest businesses as much as it protects consumers.

Companies that follow the rules should not have to compete against bad actors who exploit loopholes or engage in anti-competitive conduct. Strengthening enforcement helps create a level playing field for everyone.

Why This Matters to Indiana

At first glance, securities regulation may seem far removed from everyday life in Indiana, but it affects nearly everything.

It affects whether small businesses can compete. It affects whether farmers have access to competitive markets. It affects health care costs. It affects innovation. It affects jobs.

And it affects whether consumers have meaningful choices.

When markets become overly concentrated, communities often lose influence over decisions that directly affect their future. When competition thrives, opportunity grows. That is why Kelly Thompson believes restoring competition should be a national priority.

Not because it is a Democratic issue. Not because it is a Republican issue. But because it is an American issue.

Our economy works best when consumers have choices, entrepreneurs have opportunities and success is earned through innovation and hard work rather than market dominance.

As your representative in Congress, Kelly Thompson would work to modernize our laws, strengthen transparency and ensure that competition remains a cornerstone of the American economy.

Protecting competition isn’t simply about economics. It’s about protecting opportunity itself.

Paid For and Authorized by Kelly Thompson For Congress