Lawmakers in the House of Representatives have introduced five new bills that would place significant restrictions on major technology companies, including Apple, Google, Facebook, and Amazon. Moreover, the proposed bills are part of a broader effort to ramp up antitrust laws against tech giants. The bills put new constraints on companies' ability to acquire new business and change the way they approach their services compared to competitors.
Representative Pramila Jayapal said, it is clear that the unregulated tech giants Amazon, Facebook, Google, and Apple have become too big to care for and too powerful to put people at the expense of profit. By reaffirming the authority of Congress, our historic bipartisan bills curb anti-competitive behavior. Monopolistic practices are prohibited. In addition, it restores fairness and competition while allowing innovation to flourish.
Online American Choice and Innovation: Prevents tech platforms from taking advantage of their own business compared to competitors The bill prevents Amazon from manipulating its markets to promote its products. It could also address concerns that Apple favors its services in the App Store.
Ending platform monopolies: The bill targets the online retail giant. It prevents big tech companies from selling products in markets they control.
Competition and Opportunity: The bill prevents dominant platforms from acquiring companies that pose competitive threats.
Increase compatibility and competition by enabling Service Switching Act: It's easy to exit social media platforms and take your data with you.
Update merger fees: The bill helps the FTC and the Department of Justice raise more money to enforce antitrust laws by increasing the fees companies pay when seeking government approval for acquisitions.
Notably, the bills enjoy bipartisan support, because limiting the power of big tech platforms has been a rare source of bipartisan agreement in Congress. Although the bills do not specify the names of individual companies, the legislation could have a significant impact on Facebook, Google, Amazon, and Apple. which has faced increased congressional scrutiny over its business practices and market dominance.