Big Tech will dodge Congress’s sharpest arrows, writes GinaChon.
The U.S. House Judiciary Committee on June 11 introduced five bipartisan bills aimed at curbing big technology firms.
One would prohibit acquisitions of rivals or assets that enhance a buyer’s market power. Another would bar an online platform from owning subsidiaries that sell products or conduct other kinds of business on that platform, with a fine of 30% of total average daily U.S. revenue for executives found to be liable for violations.
Another bill would require companies to allow users to transfer their data to a competing site more easily, while the final one would increase fees charged by federal agencies for big mergers to ensure they have the resources to review them.The U.S. Capitol building exterior is seen at sunset as members of the Senate participate in the first day of the impeachment trial of President Donald Trump in Washington, U.S., January 21, 2020.
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