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| New antitrust laws target tech workers |
House lawmakers have introduced five new bills that will severely restrict big tech companies such as Apple, Google, Facebook and Amazon.
Additionally, the bill is part of a larger effort to strengthen antitrust laws against tech giants.
Compared to competitors, these bills limit companies' ability to acquire new business and change service methods.
"It is clear that the unregulated tech giants Amazon, Facebook, Google, and Apple have grown too big to care and too powerful to let people pay at the expense of profits," Prami Rajayapal said in a press release.
"By reaffirming the authority of Congress, our historic bipartisan project contained anti-competitive behavior," she added. Monopolistic behavior is prohibited. In addition, it restores fairness and competition and allows innovations to flourish.
Bills:
- Online choice and innovation in the US: Compared to competitors, this will prevent technology platforms from profiting from their business. The law prohibits Amazon from manipulating its market to promote its products. It could also allay Apple's concerns about its preference for its services over the App Store.
- Monopoly End Platform: Bell targets online retail giants. 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 a competition threat.
- Improve compatibility and competitiveness by enabling service transformation methods: It's easy to leave social media platforms and take data with you.
- Update merger fees: The bill helps the Federal Trade Commission and the Department of Justice raise more money to enforce antitrust law by increasing the fees companies pay when they apply for state approval for a takeover.
It should be noted that these bills are supported by both sides, as limiting the power of big tech platforms has been a rare source of agreement between the two sides in Congress.
While these bills do not specify the names of individual companies, the legislation could have a significant impact on Facebook, Google, Amazon and Apple. The company is subject to congressional scrutiny for its business practices and market dominance.