US Lawmakers Target Internet Giants

US Lawmakers Target Internet Giants
[Jun 11, 2021, 4:59 pm ET] – 12 Comments

An expansive set of antitrust reforms were introduced in the US House of Representatives today by a bipartisan group of lawmakers. These target Amazon, Apple, Facebook, and Google to make it more difficult to leverage their dominant positions to complete mergers or own companies that create conflicts of interest. This is a package of five bills, which would need to pass votes in the Judiciary Committee, the full House, and the Senate and be signed by the president before becoming laws (who said watching cartoons isn't educational?). CNBC explains:

The measures come in the wake of a lengthy investigation by the House Judiciary subcommittee on antitrust into the four companies that was completed last year.

The panel found at the time that Amazon, Apple, Facebook and Google hold monopoly power and that antitrust laws should be revised to better deal with the unique challenges of competition in digital markets.

While Democrats and Republicans diverged on some of the solutions, they mostly agreed on the alleged competitive harm and that reform was necessary to reinvigorate the markets.

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