Amazon, Apple, Facebook and Google could be forced to overhaul their business practices under a new expansive set of antitrust reforms introduced by a bipartisan group of House lawmakers on Friday.
could be forced to overhaul their business practices under a new expansive set of antitrust reforms introduced by a bipartisan group of House lawmakers on Friday.and other outlets, would make it harder for dominant platforms to complete mergers and prohibit them from owning businesses that present clear conflicts of interest. The legislation represents the most comprehensive effort to reform century-old antitrust laws in decades.
While Democrats and Republicans diverged on some of the solutions, they mostly agreed on the alleged competitive harm and that reform was necessary to reinvigorate the markets. Despite tech pushback, the bipartisan support for the bill is a formidable signal to the industry. The sector has inspired rare collaboration between Democrats and Republicans, who both believe tech companies have come to hold too much power and worry about stagnating innovation.
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