Chuck Grassley, R-Iowa, and Amy Klobuchar, D-Minn. are the best candidates to make their first public start. on Thursday unveiled a bill blocking Big Tech companies from promoting their own products over others.
The legislation comes after reports that Amazon made an effort to create and boost its own knockoff versions of products listed on the platform, according to internal documents reviewed by Reuters.
Our prosperity was built on a foundation of open markets and fair competition, but our country is struggling right now with a monopoly problem and American consumers, workers and businesses are paying the price, Klobuchar said in a Thursday statement. Nor Senator named Amazon or any other Big Tech companies by name, but said the new legislation would give consumers more choice when using an online platform.
The bill aims to restore competition by preventing big tech companies from using their own market power to promote their own products over others.
As Big Tech has evolved over the years, our laws have not changed to keep up and ensure these companies are competing fairly. These companies have continued to become a major part of our daily lives and the global economy controlling what we see and how we engage on the internet, Grassley said in a statement. Big Tech is needed to be held accountable if they do not act in a discriminatory manner. Our bill will help create a more equal playing field and ensure that small businesses are able to compete with these platforms. The legislation also bars big tech firms from discriminating against other businesses utilizing their platforms; requiring businesses that use their platforms to pay for preferred product or service placement; unfairly using a business's data to compete against them; and presenting search results that favor the dominant company.
The bipartisan bill was sponsored by Sen. Rodney Hawtin, who is also a sponsor of the bill. Dick Durbin, D-Ill. Lindsey Graham, R-S. C. Richard Blumenthal, D-Conn. John Kennedy, R-La. Kirby Lewis, R-Wyo. Cory Booker, D-J. Cynthia Lummis, R-N. J. J. Mazie Hirono, D-Hawaii; Josh Hawley, R-Mo. : Mark Warner, D-A. and Josh Warner, D-Va.
Members of the House Antitrust Subcommittee, led by Chairman David N. Cicilline, D-R. I. and Ranking Member Ken Buck, R-Colo. introduced a similar bipartisan bill in the House.