Congress has taken a new step toward reining in the market dominance of Big Tech. Bipartisan legislation advanced by a Senate panel would bar the dominant online platforms from favoring their own goods and services over those of rivals on the platforms.
FILE - The logo for Amazon is displayed on a screen at the Nasdaq MarketSite, in New York, Friday, July 27, 2018. Amazon’s British website has backed away from plans to stop accepting Visa credit cards issued in the United Kingdom. The online retailer said Monday, Jan. 17, 2022 that the change would not be implemented as planned Wednesday while talks between the two sides continue.
The industry warned that the bill's restrictions would hurt Amazon Prime, the wildly popular streaming and shopping service with free delivery and an estimated 200 million members around the globe. The new legislation is complex and senators of both parties had objections to some provisions, even though all condemned the tech giants’ conduct. Many proposed amendments were carried over for negotiations before the bill reaches the Senate floor, and those talks promise to be strenuous.
In the House, the Judiciary panel last June approved an ambitious package of legislation that could curb the tech giants’ market dominance and even force them to sever their dominant platforms from their other lines of business. There has been no House action on the package since then.
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