(ConservativeHub.com) – American Big Tech companies have managed to stave off meaningful competition for years. In some instances, they have bought out competitors, like when Facebook conducted its billion-dollar purchase of Instagram in 2012. They also dominate the market by employing unfair practices. Legislators have talked about reigning in Big Tech for years, and they took a couple of major steps in that direction this week.
The House Judiciary Committee passed the first of a six-bill package aimed at curbing the dominance of Amazon, Apple, Facebook, and Google on Wednesday, June 23. The ACCESS Act of 2021 would grant the Federal Trade Commission the authority to set standards for Big Tech companies, making it easier for their users to transfer their data from one platform to another and communicate with users on competing platforms.
Legislation to curb tech giants’ market dominance passed a House committee, though intense lobbying slowed the bills and foreshadowed a pitched battle in the Senate. https://t.co/HOrFMvfjE8
— WSJ Politics (@WSJPolitics) June 24, 2021
On Thursday, the Judiciary Committee passed the American Choice and Innovation Online Act, the centerpiece bill of the six-part package. If passed into law, it will prevent Big Tech companies from employing business practices favoring their own products and services over those of other businesses using their platforms.
The measures still have a long way to go before becoming law. First, they must pass a floor vote in the full House and then in the Senate. We will keep you updated as events unfold in this breaking story.
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