Bipartisan Duo Propose New Federal Agency to Regulate Big Tech

Senators Elizabeth Warren and Lindsey Graham are taking action to check the power of Big Tech platforms like Amazon, Apple, Google, Meta, Microsoft, TikTok and Twitter. The bipartisan duo announced a new federal agency to specifically regulate the tech giants with the power to sue them, or even revoke their existence and regulate their practices.

The Digital Consumer Protection Commission Act is the legislation that seeks to address the national security concerns that accompany the rapidly growing tech companies. It would ensure that US citizens are in control of any data stored in foreign countries and make sure that “dominant” tech platforms are based in the United States.

The bill is part of their larger effort to re-establish trust between tech companies and the public. With the backs of fellow senators against them, as well as years of stalled attempts to pass new rules, they are setting their sights on putting an end to the unchecked power and influence of Big Tech.

Related: The Bipartisan Consensus On Big Tech

“For too long, giant tech companies have exploited consumers’ data, invaded Americans’ privacy, threatened our national security, and stomped out competition in our economy. This bipartisan bill would create a new tech regulator and it makes clear that reining in Big Tech platforms is a top priority on both sides of the aisle,” said Senator Warren.

“Enough is enough,” added Senator Graham. “It’s time to rein in Big Tech. And we can’t do it with a law that only nibbles around the edges of the problem. Piecemeal efforts to stop abusive and dangerous practices have failed.”

The Digital Consumer Protection Commission Act is a historic piece of legislation and an unprecedented step forward for consumer rights. With the support of key senators, the federal agency will ensure that tech companies act ethically, and are held accountable for their actions.

Source: NY Times