Business

House Democrats has submitted five antitrust bills aimed at curbing Big Tech.

Congressman submitted five antitrust bills on Friday. This is Amazon.com Inc. These include essentially splitting such things into two companies or forcing them to stream their own branded products. Of Big Tech.

Another bill, called the “American Innovation and Choice Online Act,” targets the capabilities of companies that are probably Amazon.
AMZN,
-0.28%
,
Apple.
AAPL,
+ 0.79%
,
And Google’s parent Alphabet Inc.
Google,
-0.38%

Google,
-0.54%
,
Leverage an online platform to prioritize your products over your competitors.

The “Platform Monopoly Termination Act,” which proposes structural separation, states that “ownership or control of a covered platform causes a conflict of interest that the business unit cannot reconcile.” Wall Street Journal first report About the bill sponsored by Democratic Rep. Pramila Jayapal.

The so-called antitrust agenda, called “The Stronger Online Economy: Opportunity, Innovation, Choice,” has two legislation that address making it more difficult for dominant platforms to stop competitive threats through mergers and acquisitions. Is also included. The fifth bill promotes online competition by “reducing barriers to entry and switching costs for businesses and consumers through interoperability and data portability requirements.”

“Currently, unregulated technology monopolies have too much power on our economy,” said David Siciline, a member of the House of Representatives Antitrust Commerce and Administrative Law Subcommittee. “They are in a unique position to choose winners and losers, destroy small businesses, raise consumer prices and unemploy people. Our agenda is leveling the competition, the wealthiest and the most powerful. Technology monopoly ensures that we play with the same rules as our other people. “

While the bill is the result of bipartisan support and an increasing chorus of volatile consumers and privacy activists, some professional business organizations have warned of the tone and rigor of the bill.

“Without clear evidence of harm to consumers and no compelling story about how these new rules remedy those harms, a few companies have a dramatically different set of rules. It doesn’t make sense to apply to, “the Progressive Policy Institute said in a statement. “On the contrary, drastic measures such as limiting core operations and banning self-priority will destroy many of the integrated products consumers are currently enjoying.”

Congress spent 15 months investigating the vast power of the biggest names in technology, including Facebook Inc.
FB,
-0.69%

The arrival of the bill coincides with another round of antitrust violations by two tech giants this week.

read more: House Democrats are set to rebuild antitrust legislation with five new bills

Both Google and Amazon are facing investigations or fines from domestic and international regulators.

Meanwhile, the Senate Judiciary Committee’s Antitrust Subcommittee announced on Friday that Amazon and Google executives will testify next week with speaker maker Sonos executives.
Garden,
+ 2.18%
,
Critics of two tech giants. Amazon Associate General Counsel Ryan McCrate and Google Public Policy Specialist Wilson White will testify, Panel Chairman Amy Klobuchar and Republican Mikely said in a statement.

Shares on Amazon, Apple, Facebook and Google were flat on Friday trading.

House Democrats has submitted five antitrust bills aimed at curbing Big Tech.

Source link House Democrats has submitted five antitrust bills aimed at curbing Big Tech.

Back to top button