U.S. lawmakers targeting big tech

[dvernb]

US lawmakers have introduced five bills aimed at limiting the power held by Big Tech companies.

The bills were drafted after a 16-month investigation into the powers of Amazon, Apple, Google and Facebook.

They address topics including data, mergers, and the competitive behavior of these companies - which could ultimately lead to them being forced to sell some assets.

But there is not unanimous support for the bills targeting Big Tech.

"Bills that target specific companies, instead of focusing on business practices, are simply bad policy... and could be ruled unconstitutional," Neil Bradley from the US Chamber of Commerce said in a statement.

The bills will be referred to the House Judiciary Committee before being sent to the House floor.

To become law, they must pass through the House of Representatives, the Senate and, finally, be signed by President Joe Biden.

David Cicilline, the co-sponsor of the bills and Democratic chair of the Antitrust panel, tweeted a breakdown of the bills which, he says, will, "strengthen our laws to hold tech monopolies accountable, and build A Stronger Online Economy".

The bills, which have received backing from Democrats and Republicans, are:

The American Choice and Innovation Online Act - this bill prevents companies from manipulating marketplaces to promote their own 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

"Big Tech's unchecked growth and dominance have led to incredible abuses of power that have hurt consumers, workers, small businesses and innovation," said Robert Weisman, president of the advocacy group Public Citizen.

"That unchecked power ends now."

More here:

https://www.bbc.com/news/technology-57450345

 

[Merlin]

Sounds like good news but as always where politicians are involved they are squeezing these giant monopolies for a bigger cut of the profits coming to the DC monopoly. The loopholes are never evident at first but they will be there when the bills pass the vote. No one on the Hill reads the bills anyway they just vote as they’re told.

The way it works.