A similar bill passed a House committee this summer.
A bipartisan group of senators led by Senators Amy Klobuchar of Minnesota and Chuck Grassley of Iowa announced they will soon introduce an antitrust bill to rein in large technological platforms. The Senate bill, similar to one passed by the House Judiciary Committee in the summer, would create rules for companies such as Facebook, Google, Amazon, and Apple, ensuring they do not 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,” Senator Klobuchar stated.
The bill, known as the American Innovation and Choice Online Act, will focus on establishing new rules to stop anti-competitive behavior among dominant online platforms. It would also give antitrust enforcers such as the Federal Trade Commission and the Justice Department new powers to confront the companies and prevent self-preferencing behavior by the tech giants.
In a statement, Senator Grassley said, “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.”
As the Lord Leads, Pray with Us…
- For Congress as both chambers seek to protect competition in the technological marketplace.
- For federal legislators as they endeavor to craft regulations for new and expanding technologies.
- For members of the Senate as they complete the drafting and introduction of the bill, debate it, and then vote.
Sources: Washington Examiner, CNBC
