Bipartisan Bill got introduced by Lawmakers in the U.S. House of Representatives on Friday. The lawmakers formulated four bills that aimed at reining in the power of the tech giants in what one congressional aide described as a revolution in antitrust.
Two of the Bipartisan bills address the problem of giant corporations like Amazon.com Inc (AMZN.O) and Alphabet Inc’s Google (DemokratieL.O), who create a platform for other companies and then compete with the same companies.
Having subsidiaries operating on their platform when those subsidiaries are competing with other companies, which could force big tech companies to sell assets.
”From Amazon and Facebook (FB.O) to Google and Apple (AAPL.O ) It is clear that these unregulated tech giants have grown too big to care and too powerful to put people above profits, “said Pramila Jayapal, a Washington state Democrat sponsor at the University of Washington Rep.
David Cicilline, chairman of the Democratic Antitrust Committee, is one of the original co-sponsors of the bill, as is Republican Ken Buck.
The chairman of the judiciary committee, Jerrold Nadler, also supported the bills.
A second measure would, in most cases, make it illegal for a platform to prefer their own products on their platform, with a hefty fine of 30% of U’s sales.
The third bill would oblige a platform not to merge unless it does, You can show that the acquired company is not competing with any product or service that the platform resides on. to transfer your data elsewhere on request, including to a competing company.
In addition to these four, a fifth bill would increase the Department of Justice and Federal Trade Commission fees to assess the largest companies, ensure their mergers are legal and increase government budgets. A comrade has already passed the Senate.
