SACRAMENTO, CA— Senator Hurtado’s historic bill sponsored by California Attorney General Rob Bonta to tackle corporate greed and price fixing was signed into law by the Governor. Senate Bill 763, the Better Business Lower Prices Act, slams the door on unchecked corporate greed by increasing criminal and civil penalties under the state’s antitrust laws.

“There was a time when I, and too many people I love, felt abused by a system rigged against us. It’s not easy to forget what it felt like to not be able to afford even a soda, or to watch my best friend struggle to buy baby formula. I feel a similar pain today as countless others do because the system is increasingly stacked against too many people,” said Senator Melissa Hurtado. “Senate Bill 763 will hold those responsible for that suffering accountable. And it’s about damn time. I’m deeply grateful to Attorney General Bonta and his incredible team for standing with us in this fight because this is how we start building an economy where no one is left behind.”

Attorney General Bonta: Corporations Must Stop Treating the Law as a Joke

Attorney General Bonta, who has been at the forefront of antitrust enforcement, praised the legislation as a crucial step toward restoring fairness:

“This week, California took action and increased penalties for wealthy corporations looking to illegally profit at the cost of workers, consumers, and honest businesses” said Attorney General Rob Bonta. “As the fourth largest economy in the world, and home to some of the wealthiest corporations, California knows that a fair and competitive marketplace should work to benefit everyone, not just a select few. I thank Senator Hurtado for authoring this law to help ensure we have the appropriate tools to keep and protect California’s vibrant economy for everyone.”

The Billion-Dollar Conspiracy Against California Families

The impact of unchecked monopolies is felt in every household, from the skyrocketing cost of groceries, gas, and rent to the disappearance of small businesses that once anchored communities.

This is not an abstract issue. It is happening right now.

• December 2024: Attorney General Bonta blocked the Kroger-Albertsons merger, stopping what would have been a devastating blow to food prices and consumer choice.
• August 2024: His office sued RealPage, exposing how rent-fixing algorithms were pushing families into financial distress.
• July 2024: Bonta secured a $50 million settlement against gas trading firms that conspired to keep fuel prices artificially high.
• September 2022: His office took on Amazon, challenging the company’s aggressive tactics that drive up prices and squeeze out competition.

These aren’t accidents. These are deliberate, calculated moves by corporate giants to siphon more money from hardworking Californians.

In addition to this pivotal bill, the Senator also authored groundbreaking legislation this year with Senate Bill 295 – CA Fair Pricing Act, which took a bold stand against corporations exploiting Californians through algorithmic price manipulation, and empowers the California Attorney General to oversee and report on pricing algorithms, ensuring transparency and accountability. This is a two-year bill, presently on the Assembly floor.

###