A new U.S. antitrust bill targeting Big Tech companies might be doomed to stay in the Senate if it doesn’t pass before Congress’ summer recess, Seeking Alpha reported Sunday (July 10).
Called the American Innovation and Choice Online Act, it was intended to cut back on tech giants’ ability to favor their own services over those of competitors. The legislation, which has backing from the U.S. Justice Department, could impact companies like Google, Apple, Meta and Amazon.
The act, sponsored by Sens. Amy Klobuchar, D-Minn., and Chuck Grassley, R-Iowa, could end up delayed as a previously waylaid reconciliation package takes over everyone’s attention, according to a CTFN report cited by Seeking Alpha.
According to Klobuchar, the bill has the 60 votes it needs to pass the Senate. However, the office of Sen. Chuck Schumer, D-N.Y., said it’s trying to still get the correct support for the bill in the Senate.
Per prior reports from CTFN, the decision for a floor vote for the bill will come down to whether Schumer will put the time into it or not. The report also noted that Republican senators could be looking at adding more amendments to the act to “complicate and delay” things, according to CTFN.
The debate over how to rein in Big Tech has been going on for some time, with much of the debate devoted to the American Choice and Innovation Online Act.
PYMNTS wrote that a big part of this debate is the question of how companies should or should not use their data — including things like not using the data to favor their own products or hurt competitors’. There are also questions over who will have access to the data and where it should be shared.
The way the Big Tech firms tell it, if this legislation is passed, consumers will see a loss of privacy and control of their data, which is something the companies perceive to be of deep importance for consumers.