Bipartisan group of senators release bill to rein in Big Tech

Bipartisan group of senators release bill to rein in Big Tech
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A bipartisan group of senators announced Thursday they will soon introduce an antitrust bill to rein in Big Tech, improving the prospects for major legislation reaching President Joe Biden's desk.

Introduced by Sens. Amy Klobuchar, a Minnesota Democrat, and Chuck Grassley, an Iowa Republican, the bill will be a companion to one of the bipartisan antitrust bills that passed the House Judiciary Committee over the summer.

The Senate bill, the American Innovation and Choice Online Act, provides a big boost to tech critics and anti-monopolists by creating rules of the road for Big Tech platforms such as Facebook, Google, Amazon, and Apple, ensuring they cannot unfairly give preference to their own products and services.

“As dominant digital platforms — some of the biggest companies our world has ever seen — increasingly give preference to their own products and services, we must put policies in place to ensure small businesses and entrepreneurs still have the opportunity to succeed in the digital marketplace," Klobuchar said in a statement.

Eight senators have attached their names to the legislation so far, including Republicans Lindsey Graham of South Carolina, John Kennedy of Louisiana, and Cynthia Lummis of Wyoming, as well as Democrats Dick Durbin of Illinois, Richard Blumenthal of Connecticut, and Cory Booker of New Jersey. Republican Sen. Josh Hawley, a vocal critic of the Big Tech companies, is also expected to express support for the legislation.

The bill will focus on establishing new rules to stop anti-competitive behavior among dominant online platforms, give antitrust enforcers such as the Federal Trade Commission and the Justice Department new powers to tackle the companies, and prevent self-preferencing behavior by the tech giants.

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"Big Tech needs to be held accountable if they behave in a discriminatory manner. Our bill will help create a more even playing field and ensure that small businesses are able to compete with these platforms," Grassley said in a statement.

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Tags: News, Policy, Economy, online commerce, Big Tech, Social Media, Apple, Google, Amazon, Facebook, Amy Klobuchar, Chuck Grassley, Senate Judiciary Committee, Monopoly, Antitrust

Original Author: Nihal Krishan

Original Location: Bipartisan group of senators release bill to rein in Big Tech

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