Big tech antitrust bill slowly gains steam in Congress, still likely short of needed votes
A bipartisan bill in Congress, the American Innovation and Choice Online Act, aims to tackle tech companies’ dominance in the market by preventing unfair competition. Led by Senator Amy Klobuchar, the bill faces challenges in securing votes despite its potential impact on tech giants.
The enormous economic power of tech companies that is threatening market competition triggered the US Congress’ initiative on the American Innovation and Choice Online Act. The act has been proposed in bipartisan mode, but does not yet enjoy overwhelming support.
The act is championed by Senator Amy Klobuchar from the Democratic Party.
The main provision of the proposed act is that online platforms with more than 50 million monthly active users or 100,000 US-based monthly active users would be blocked from putting their products and services ahead of a different business if it materially harms competition.
In this respect, this act aims to ‘mimic’ the approach of the EU’s Digital Market Act.
Voting on this act will test the power of tech companies to block US Congress legislation that may harm their interests.