Originally published at The Washington Examiner.
The Biden administration’s antitrust crusade may be over, but the damage to America’s tech leadership remains. Overregulation and bureaucratic overreach left U.S. companies navigating uncertainty while global competitors such as China surged ahead. The American Action Forum found that former President Joe Biden increased regulations by nearly $2 trillion over the last four years, raising hidden taxes. Under President Donald Trump, with a Republican-led Congress and the opportunity to confirm key nominees, there’s a path to unleash a tech revolution, as I recently wrote in a report partnered with NetChoice. By restoring the consumer welfare standard and rejecting heavy-handed regulation, the Trump administration, in which I worked to support this approach and reduce spending in his first term’s budgets, can spark a new era of innovation and growth in America’s tech sector. The consumer welfare standard ensures that antitrust enforcement focuses on consumer benefits, not punishing business success. The Biden administration ignored this principle, favoring interventionist policies that stifled innovation and raised costs. Trump’s vision should offer a sharp contrast. With the Senate tasked to confirm leaders at the Federal Trade Commission and the Justice Department, the administration can install officials who champion free-market principles, providing the stability necessary for companies to thrive. America’s tech industry is vital to economic growth and national security. Employing nearly 10 million people and contributing almost a third of the S&P 500’s market value, the sector drives advancements in artificial intelligence, cybersecurity, and advanced manufacturing. However, under Biden, these achievements were undercut by policies that raised barriers for small businesses and startups. While U.S. companies grappled with regulatory hurdles, China accelerated its dominance in critical technologies such as 5G and AI, leveraging state subsidies to widen the gap. The Trump administration can reverse this trend by removing barriers to growth and ensuring a competitive environment that rewards innovation. With Republican majorities in Congress, legislators should advance policies that foster growth and innovation. The Senate confirming nominees who defend the consumer welfare standard is a first step toward ensuring antitrust enforcement serves consumers, not bureaucratic agendas. By dismantling the web of overregulation and reducing the corporate income tax rate to at least 15%, Congress and the administration can allow U.S. companies to compete globally without being hampered by unnecessary constraints. This approach isn’t just about tech giants in Silicon Valley — it’s about creating opportunities nationwide. Platforms such as Amazon and Etsy empower small businesses to scale and reach global markets. By fostering competition and reducing barriers to entry, the Trump administration can expand these opportunities, driving growth in heartland states and empowering entrepreneurs to succeed in the digital economy. Beyond economic growth, America’s leadership in technology is critical for national security. Leadership in AI, quantum computing, energy, and cybersecurity is essential for maintaining strategic advantages over global adversaries. China’s authoritarian model prioritizes short-term gains at the expense of long-term innovation, while the U.S.’s free-market system fosters ingenuity and resilience. The Trump administration can secure the nation’s technological and geopolitical future by reestablishing America’s commitment to this model. Regulatory missteps have allowed foreign competitors to shape the future of technology. If America is to remain the global leader, bold action is required. With Trump at the helm and a Republican-led Congress ready to act, there’s an opportunity to reaffirm America’s position as the world’s innovation capital. By rejecting past mistakes and embracing free-market principles, the U.S. can ensure the next wave of breakthroughs is made in America, not dictated by Beijing or Brussels. America’s tech sector can thrive with key confirmations and policies aligned to foster competition and innovation. The Trump administration must seize this chance to rewrite the narrative, empowering businesses, protecting consumers, and securing America’s future as the global leader in tech, thereby further advancing the next revolution to let people prosper.
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Vance Ginn, Ph.D.
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