US lawmakers have recently announced five new bills that should limit the power of Big Tech companies.
Indeed, the bills will plan to address data, mergers, and the competition between some of the biggest tech companies, such as Apple, Amazon, and Google, in order to share the power they hold currently. These bills aim to strengthen the laws to hold tech monopolies accountable and build a stronger online economy.
However, there is not unanimous support for the bills so they will need to be referred to the House Judiciary Committee and pass through the House of Representatives, the Senate, and signed by the President before being put into place.
The bills are:
- The American Choice and Innovation Online Act preventing companies from manipulating marketplaces in order to promote their products.
- The Platform Competition and Opportunity Act of 2021 preventing companies from killing off the competition.
- The Ending Platform Monopolies Act preventing companies from having a monopoly in the marketplace to sell their products.
- The Augmenting Compatibility and Competition by Enabling Service Switchin (ACCESS) Act of 2021 making it easier to take your data to a competitor.
- The Merger Filing Fee Modernization Act of 2021 allowing the Department of Justice and the Federal Trade Commission the resources they need to police monopoly power.