Booker Statement on T-Mobile-Sprint Merger
WASHINGTON, D.C. – U.S. Senator Cory Booker (D-NJ), a member of the Senate Judiciary Committee, released the below statement following the Department of Justice’s approval of the T-Mobile-Sprint merger:
“This merger leaves consumers with fewer choices and reduces the field of competitors below an even minimally acceptable threshold. Our antitrust laws were designed to prevent exactly this type of arrangement and it’s alarming that the Department of Justice approved it based on nothing more than a host of grandiose promises from the parties that will be difficult to verify, let alone enforce. We have seen such promises made and broken before. This merger will have harmful and long-lasting effects on workers and consumers who will now likely pay higher prices for worse service with fewer offerings. In addition, I remain skeptical this merger was necessary to deliver its supposed benefits to consumers in rural communities, who lack access and endure unreliable wireless service.”
In May of this year, Booker joined a letter to the Department of Justice Assistant Attorney General Makan Delrahim sounding the alarm on reported attempts of political interference in the T-Mobile/Sprint merger investigations.
Background on Booker's work fighting anticompetitive behavior:
Booker has been a fierce advocate in the Senate for cracking down on monopolistic corporate practices that hurt consumers and workers. He was one of the first lawmakers to press antitrust regulators on corporate concentration and the increasing trend of "monopsony" power, which limits worker mobility and depresses wages, and earlier this year he reintroduced a bill to place an immediate and indefinite moratorium on acquisitions and mergers in the food and agriculture sector.
Booker is also the author of legislation to crack down on collusive "no poaching" clauses that are often used by large franchisors to prohibit franchisees from hiring each other’s workers (the End Employer Collusion Act). In large part due to the proposed legislation, several fast-food chains have announced plans to end such clauses.
Last year, Booker introduced the Worker Dividend Act, targeting the increasing trend of corporations using profits for stock buybacks instead of using them to raise wages for workers. And in 2017, he introduced a bill targeting companies that outsource much of their labor costs to contractors and temp workers rather than hiring direct employees.