Big Tech Antitrust Law Comes Before House Judiciary Committee – Deadline
The· House Judiciary Committee A series of discussions and markups began on Wednesday Antitrust Law Bills designed to curb the power of major technology platforms such as Amazon, Facebook, Google And AppleEven if that means forcing the company to sell some of their holdings.
The law covers so-called “dominant platforms,” or platforms with revenue or market capitalization of at least $ 600 billion.
Some legislation prohibits large corporations from using the platform “for the sale or provision of a product or service” or owning a business that sells the service as a condition of access to the platform. There is a law. Not being able to own a conflict-of-interest business like Amazon’s own-branded products could force the company to dissolve. Amazon market retailers have accused the company of mining data to undercut it.
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Recently, companies have issued a series of statements against the action, both independently and from industry groups.
However, the bill, among certain Democrats and Republicans of the Antitrust Subcommittee of the Judiciary, is chaired by Congressman David Siciline (D-RI) and its ranking member, Congressman Kenbach (R-). Attracted rare bipartisan groups, including CO). Cicilline led a survey of technology platforms published in October and concluded that companies are using gatekeepers or monopolies to curb competition.
“We provide departments and FTCs with the tools they need to restore the free market,” said Buck, who said the bill was conservative and even backed by Fox News host Tucker Carlson. Claimed to have been.
However, Judiciary Committee ranking member Jim Jordan (R-OH) opposed the bill, claiming that Big Tech would work with big government to give the Federal Trade Commission more power. .. He often accused the platform of censorship of the voice on the right.
The invoice includes:
Platform Competition and Opportunity Law: We prohibit the acquisition of competitive threats by dominant platforms and the acquisition of online platforms that expand or retain market power.
Facebook, in particular, is tasked with buying Instagram and other small rivals to maintain its social media dominance.
Ending Platform Antitrust Law: The dominant platform leverages control across multiple business lines to eliminate the ability to self-preference and disadvantage competitors in a way that undermines free and fair competition.
American Innovation and Choice Online Law: Prohibit discriminatory activity by dominant platforms, including a self-priority ban on “choosing winners and losers online”.
Merger Fee Modernization Act: The Justice Department and the Federal Trade Commission will renew the merger application fee for the first time in 20 years to secure the resources needed to proactively enforce antitrust laws. This will increase the fees for mergers worth more than $ 1 billion and reduce fees for transactions less than $ 500,000.
Strengthening compatibility and competition by enabling the Service Switching (ACCESS) method: Promote online competition by lowering barriers to entry and switching costs for businesses and consumers through interoperability and data portability requirements.
State Antimonopoly Act Enforcement Place Act: This allows the state prosecutor’s proceedings under federal antitrust law to remain in the court of choice rather than being transferred to the court in which the defendant takes precedence.
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