Big Tech Hit with Antitrust Legislation By House of Representatives

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Photo: The logos of Amazon, Apple, Facebook and Google are seen in a combination photo from Reuters files. (REUTERS)

Lawmakers in the House of Representatives on Friday unveiled an antitrust package composed of five bills aimed at providing regulators more power to rein in Big Tech companies and potentially force their break up.

The bipartisan initiative is being led by the House Judiciary Antitrust Subcommittee leadership, with each of the five bills having a Republican and Democratic co-sponsor. Each of the bills target different ways that tech companies maintain market dominance by potentially abusing their power.

“Right now, unregulated tech monopolies have too much power over our economy,” Rep. David Cicilline (D-R.I.), chairman of the House Judiciary Antitrust Subcommittee, said in a statement Friday. “They are in a unique position to pick winners and losers, destroy small businesses, raise prices on consumers, and put folks out of work.”

“Our agenda will level the playing field and ensure the wealthiest, most powerful tech monopolies play by the same rules as the rest of us,” he added.

The introduction of the antitrust package comes after the Judiciary subcommittee last year released a report (pdf) in October 2020 alleging a range of anti-competitive practices by dominant tech companies Facebook, Google, Amazon, and Apple. The report was a culmination of a 15-month investigation into their business tactics. It was approved on a party-line vote earlier this year, with not much support from Republicans who were hesitant to back some of the recommendations outlined by Democrats in the report.

The report concluded that the four Big Tech giants—while being investigated for different reasons—have engaged in anti-competitive conduct and abused their market power by “charging exorbitant fees, imposing oppressive contract terms, and extracting valuable data from the people and businesses that rely on them.” The report also said that the four companies “have abused their role as intermediaries” to further expand their dominance through practices such as self-preferencing, predatory pricing, and exclusionary conduct.

The “Big Four” companies have rejected allegations in the report that they are abusing their market power, with their CEOs having testified together in July 2020 before Congress as part of the Judiciary panel’s investigation.

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Small toy figures are seen in front of Google logo in this illustration picture on April 8, 2019. (Dado Ruvic/Reuters)

The newly unveiled legislative package’s five bills include the “American Innovation and Choice Online Act” (pdf) which seeks to ban discriminatory conduct, including a ban on the dominant platforms favoring their own products and services over other competitors on their platforms.

The “Platform Competition and Opportunity Act” (pdf) seeks to ban dominant platforms from acquiring competitive threats, which includes acquisitions that expand or entrench their market power of the online platforms. Another bill, the “Ending Platform Monopolies Act,” (pdf) would ban tech companies from leveraging their control…

Read entire article here.

Original article posted by Mimi Nguyen Ly at The Epoch Times. Title altered by Montana Daily Gazette.




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