US Lawmakers Introduce Bills Targeting Big Tech

The US lawmakers are bound to restrict the power of Big technology companies. It was after a thorough investigation for 16-months into the powers of Amazon, Google and Facebook.

The topics of these companies including data, mergers and their competitive behaviour were addressed, which could in no time lead them to sell off some assets. However, the case hasn’t reached an agreement for the bills targeting Big Tech.

Neil Bradley from the US chamber of commerce mentioned that Bills that target specific companies, instead of focusing on business practices, are simply bad policy, and could be ruled unconstitutional.

So, via the House Judiciary Committee, the bills will be sent to the House floor. Hence, before making it a law, it must pass through the House of Representatives, the Senate and finally get signed by President Joe Biden.

A tweet from David Cicilline, the co-sponsor of the bill and Democratic chair of the Antitrust panel, says he will “strengthen our laws to hold tech monopolies accountable, and build #AStrongerOnlineEconomy”.

Democrats and Republicans aided some bills, which are:

The American choice and Innovation Online Act– this bill prevents companies from manipulating marketplaces to see to the moving forward of their products.

The Platform Competition and Opportunity Act of 2021 – this bill makes it harder for companies to buy and kill off competitors.

The Ending Platform Monopolies Act– this bill prohibits Big Tech monopolies from selling products in marketplaces they control.

The Augmenting Compatibility and Competition by Enabling Service Switching (ACCESS) Act of 2021 – this bill makes it easier to leave a social media platform and take your data to a competitor

The Merger Filing Fee Modernization Act of 2021 – this bill allows the Department of Justice and the Federal Trade Commission the resources they need to police monopoly power, at no cost to taxpayers

Robert Weidman, President of the advocacy group public citizen said “Big Tech’s unchecked growth and dominance have led to incredible abuses of power that have hurt consumers, workers, small businesses and Innovation”. That unchecked power ends now.” Antitrust and anti-competitive behaviour.

Over the recent years, US companies have faced increased scrutiny in Washington over their size and power.

“From Amazon and Facebook to Google and Apple, it is clear that these unregulated tech giants have become too big to care,” said Pramila Jayapal, a Democratic Representative and bill sponsor.

A 449-page report accusing the companies of charging high fees, initiated by a 16-month investigation by the Antitrust, forced smaller customers into unfavorable contracts and use of killer acquisitions to hobble rivals.