On Friday, House Democrats submitted five new bills aimed at undermining the power of big tech companies, targeting various practices that antitrust advocates say are restraining competition. ..
These steps are a historic 16-month survey of the House Judiciary Committee on business tactics for companies such as Apple, Amazon, Facebook, and Google. With this new bill, Congress is preparing to legislate on the concerns raised by the investigation. And this move, as we know it, has the potential to reshape the tech industry.
“Currently, unregulated technology monopolies have too much power on our economy. They choose winners and losers, destroy small businesses, raise consumer prices, and make people We are in a unique position to unemploy, “Representative David Siciline (D-RI) said in a statement on Friday. “Our agenda leveles the competition and ensures that the wealthiest and most powerful technology monopolies play with the same rules as our other people.”
The package, unveiled on Friday, includes five measures aimed at different ways tech companies can maintain their market advantage. One bill empowers the Justice Department or the Federal Trade Commission to dissolve technology companies by forcing them to sell some of their businesses that could cause conflicts of interest.
Another bill would ban companies from prioritizing their services over their rivals, just as Google boosts its products in search results over its competitors. Yet another bill would prevent companies like Facebook from buying early competitors, such as the 2012 acquisition of Instagram.
The last two bills are less controversial. The Senate has already passed a bill issued by Senator Amy Klobuchar (D-MN) last week to raise fees for merger applications for large companies and give antitrust enforcers more money to file suits. .. A bill reflecting that law was introduced on Wednesday. The final bill forces the data collected by the platform to be interoperable to make it easier for users to jump from one service to another. Both Republicans and Democrats seem to want to move the data portability law forward.
The House technical investigation is a bipartisan effort, and both parties agree with much of the findings, but disagree with some of the solutions. The survey led to over 400 pages of reports from Democratic staff detailing the findings. The Commission’s top Republican, Congressman Ken Buck (CO), encourages large platforms to censor conservative speech and support other Republicans to support competitive reform as a means of addressing this issue. Published a unique report focusing on methods.
It’s unclear how lawmakers plan to proceed with legislation, but a multifaceted approach could make it easier to make some changes next year. More measured approaches like Klobuchar to increase regulatory funding can find widespread support in house.
At least one Republican and one Democrat signed each measure on Friday. Still, it’s unclear if all members will support each bill. Thursday Axios report Lobbyists at Rupert Murdoch’s media companies, such as Fox Corporation and News Corp., have urged Republicans in the House of Representatives to support the move.
“These companies are using a variety of anti-competitive behaviors to curb competition and maintain a monopoly on the online market,” Buck said in a statement on Friday. “Doing nothing is not an option. We must act now.”
House lawmakers introduce five bipartisan bills to unwind tech monopolies Source link House lawmakers introduce five bipartisan bills to unwind tech monopolies