Congress·In Committee·S. 4107

Sen. Klobuchar Introduces Bill to Increase Oversight of Corporate Antitrust Settlements

Antitrust Accountability and Transparency Act

8 days ago·View on Congress.gov·Read full text

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Key Points

The bill strengthens judicial review of antitrust consent judgments by requiring courts to determine, based on evidence and reasoned analysis, that settlements are in the public interest and don't create a material risk of violating antitrust laws. Courts would no longer need to defer to the government's predictions about whether its remedies will work.
If the federal government tries to voluntarily dismiss an antitrust case, state attorneys general get 45 days to step in and take over the lawsuit. Courts must grant substitution unless there's clear and convincing evidence the case has no merit.
From policy text
“During the 45-day period under paragraph (1), any State attorney general may file a motion for substitution in the proceeding. A court shall grant the motion for substitution unless presented with clear and convincing evidence by the parties that there are no genuine issues of material fact”
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In merger cases, companies must keep their assets separate during the public comment and court review period — essentially freezing the deal until the settlement is approved. Violating this requirement carries civil penalties.
From policy text
“the parties shall continue to hold all assets related to the transaction separate as if they are subject to a waiting period under section 7A until the date that is 15 days after the United States or Federal Trade Commission files with the district court”
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The government must now disclose side agreements and private commitments not included in the formal settlement, as well as any communications with the Executive Office of the President related to the case.
From policy text
“any commitments made by the parties to the United States or Federal Trade Commission not memorialized in the proposal related to the proceeding, how the proposal remedies any material risk that the antitrust laws may be violated”
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The bill requires disclosure of any benefits or concessions offered by merging parties to government officials — including payments, donations, or changes in business practices — that may be connected to the case, targeting potential political influence over enforcement.
From policy text
“order the production of information or testimony regarding the provision of, or offer to provide, a benefit or concession by any party in the proceeding to the Government or an employee or officer thereof, including payments, donations, or alterations in policy or business practices”
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The public comment period is shortened from 60 to 45 days, but people who submit comments gain a new right to reply to the government's response, giving the public a more meaningful role in reviewing antitrust settlements.
From policy text
“Parties that submitted comments shall be allowed to submit a reply to the responses published by the United States or Federal Trade Commission.”
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Impact Analysis

Personal Impact

Who is affectedScoreImpactCertaintyScopeDurationSentiment

Scores: 1 = low, 5 = highSentiment: -5 to +5 (net benefit)

Milestones

2 milestones2 actions

Mar 17, 2026Senate

Read twice and referred to the Committee on the Judiciary.

Mar 17, 2026

Introduced in Senate

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