U.S. senators propose new government agency to regulate Meta, Amazon, Google and other tech giants
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Update time : 2023-07-29 11:45:41
According to Reuters, U.S. Senators Elizabeth Warren (D-Massachusetts), a Democrat, and Lindsey Graham (R-S.C.) said on July 27 that they would push for an ambitious bill that plans to create a new government agency to regulate Meta, Facebook, Alphabet ( Google), Amazon and other big tech companies.
For years, the federal agency has tried to launch legal action against Google, Facebook and others for alleged monopolization, though bills trying to limit the growth of large tech companies have failed to pass the U.S. Congress.
In addition to creating a regulatory commission, Senators Warren and Graham's proposed legislation would strengthen antitrust laws by prohibiting companies from prioritizing their own products over those of competitors. Amazon, for example, has been accused of prioritizing the display of Amazon's own brands when consumers conduct searches on its shopping platform.
In a description of the proposed measure, Warren's office said the law would allow the commission to block certain acquisitions by these tech giants and force the sale of assets under certain circumstances. The bill would also strengthen privacy protections and limit data access by foreign subjects and foreign competitors.
Like the FTC, the new Digital Consumer Protection Commission would have five commissioners, with up to three from one political party. Warren said in a statement, "This bipartisan bill would create a new technology regulator. Reining in large tech companies is a bipartisan imperative."
Graham said the regulatory commission was created to "protect American consumers from the enormous power these companies currently wield," the first step in a long journey. Amazon declined to comment on the matter as of press time, while Facebook and Google did not respond to requests for comment.
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