Once passed, these bills, five in total, have the potential to break up big tech companies using various laws. These bills are formed by democrats and republicans after a 16-month long investigation in the relevant space.
US Laws Targeting Tech Giants
US Laws Targeting Tech GiantsEnding Platform Monopolies ActAmerican Innovation and Choice Online ActPlatform Competition and Opportunity ActAugmenting Compatibility and Competition by Enabling Service Switching (ACCESS) ActMerger Filing Fee Modernization Act
Observing some anti-competitive practices in the nation, several legislators have long been advocating for laws that can contain such malpractices of tech giants, and thwart exploitation against consumers. While the existing laws are already in place for the same purpose, they mostly aim at brick-and-mortar stores and be useless to technology companies that are continuously finding new ways to bunk regulations. Thus, here are the new potential laws;
Ending Platform Monopolies Act
This shall prevent the dominant platforms from owning different business lines, which can create a conflict of interest. Taking the example of Google, the search engine platform could be prevented from owning a different business line like a video platform – YouTube. Read more here.
American Innovation and Choice Online Act
Platform Competition and Opportunity Act
It is aimed at barring big tech companies from buying out the smaller rivals, so as to wipe out the competition at all. Read more here.
Augmenting Compatibility and Competition by Enabling Service Switching (ACCESS) Act
Merger Filing Fee Modernization Act
This act is aimed at increasing the merger fees of companies planning to get together and use the proceeds to aid antitrust enforcement efforts at the Justice Department and Federal Trade Commission. Read more here. These bills are the output of the antitrust subcommittee’s investigation into the competition in digital space, for over 16 months.
