The House approved sharply scaled-down legislation targeting the dominance of Big Tech companies by giving states greater power in antitrust cases and increasing money for federal regulators.
| Associated Press
The more limited bill would give states an upper hand over companies in choosing the location of courts that decide federal antitrust cases. Proponents say this change would avert the “home-court advantage” that Big Tech companies enjoy in federal court in Northern California, where many of the cases are tried and many of the companies are based.
Under the bill, companies seeking approval for mergers would have to disclose subsidies they received from countries deemed to pose strategic or economic risks to the United States — especially China. Even in reduced form, the legislation drew fierce opposition from conservative Republicans who split from their GOP colleagues supporting the bill. The conservatives objected to the proposed revenue increase for the antitrust regulators, arguing there has been brazen overreach by the FTC under Biden.
If Republicans win control of the House or Senate in the November elections, they are certain to try to crimp the activism of the FTC and to challenge its broader interpretation of its legal authority.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Georgia Tech cleans house and Ohio State welcomes LeBron James home - USA TODAY Sports+Poll rankings, Georgia Tech firings and LeBron James playing a college sport dominate the conversation on this week's College Football Fix with DanWolken & PaulMyerberg Listen wherever you get your podcasts:
Read more »
House Passes Antitrust Bill That Hikes M&A Fees, as Larger Efforts Targeting Tech Have StalledThe bipartisan and straightforward measures still saw heated debate, signaling the hurdles that more sweeping legislation targeting tech will have to overcome.
Read more »
Why the White House wants to put nutrition labels on the front of food packagesThe Biden administration is proposing that nutrition labels go on the front of food packages rather than the back. It's part of a strategic plan to end hunger and diet-related diseases in America in eight years.
Read more »
10 Signs Your House Is Haunted (And What to Do About It)Paranormal expert and astrologer Lisa Stardust breaks down the telltale signs of a haunted house, the history of ghosts, and how to be a ghostbuster IRL.
Read more »