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Fox Business’ Kelly O’Grady on the Big Tech Roundup on Capitol Hill.
Supporters of antitrust legislation that would limit the power of big tech companies are urging congressional leaders and the White House to push for passage before the end of the year, but it has now passed bipartisan House and Senate committees. .
Sen. Chuck Grassley, R-Iowa, who co-sponsored the American Innovation and Choices Online Act with Sen. Amy Klobuchar, D-Minn., criticized President Biden and Senate Majority Leader Chuck Schumer for failing to force a vote.
“Sean Schumer and President Biden have had months to make this bipartisan, bipartisan antitrust legislation a priority,” Grassley told Fox News.
“The American Innovation and Choice Online Act could have been cleared months ago in a formal process if leadership had prepared a vote and we could have avoided horse-trading by the end of the year.”
House passes anti-trust bill targeting big tech
Sen. Chuck Grassley, R-Iowa, is pushing congressional leaders to step aside and pass Big Tech antitrust legislation. (Anna Cashier/Getty Images/Getty Images)
Grassley said he and other supporters of the measure “will continue to work to find a way to pass the bill, but if it doesn’t happen, the Democratic leadership has only themselves to thank.”
Klobuchar told Fox News that she will work with her colleagues to pass her bill and others before the end of the year.
House lawmakers pass bills to make Big Tech work as conservatives warn of excessive federal oversight
“Continuing to allow big tech companies to dominate policy decisions in Washington is not a viable option when it comes to local news outlets, consumer and privacy rights, or competition in online marketplaces,” Klobuchar said. “These are some of the most powerful companies the world has ever seen, and they are spending hundreds of millions of dollars to prevent any common sense reform.
We must take action.
Sen. Amy Klobuchar, D-Minn., said Congress must act to protect consumer and privacy rights by enacting antitrust legislation. (Tom Williams/Pool via REUTERS/File Photo/Reuters Photos)
The membership bill presented by the House also passed out of committee.
David Cicilline D.R.I. “The White House is clear in its support for this legislation, and Senator Schumer has pledged to do so,” Rep. David Cicilline told Fox News this week. “It’s time to vote on this historic, bipartisan bill and deliver it to small businesses, consumers and creators.”
Rep. Ken Buck, R-Colo., told Fox News that Apple CEO Tim Cook’s recent trip to Washington “shows that Big Tech wants to stop any effort to curb their market dominance.”
“Congress is at a critical juncture and has a historic opportunity to pass bipartisan antitrust legislation before the end of the year if Senator Schumer and Speaker Pelosi are willing to vote,” he said.
The Biden administration has said it is open to working with lawmakers to reform antitrust laws for big tech companies. (AP Photo/Patrick Semansky/AP Newsroom)
The law aims to prevent major digital platforms from promoting their own products and services. Proponents say the current situation hurts small businesses, stifles innovation and limits consumer choice.
A White House spokesperson told Fox News that the White House “continues to work closely with technology antitrust law sponsors.”
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“Increasing competition, including in the technology sector, is a key part of the president’s economic agenda,” a White House spokesperson told Fox News.
“There is bipartisan support for technology antitrust legislation, and we hope Congress will act.”
Former Assistant Attorney General for Antitrust McCann Derahim joins Kudlow to discuss how Section 230 will play a role in the litigation.
US antitrust laws have not been significantly updated in nearly 100 years.
The American Innovation and Choice Online Act is one of several bipartisan measures awaiting consideration on both the Senate and House floors this Congress.
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One bill focuses on data portability and interoperability and requires online platforms to allow users to easily move their data to other services. Another is that many of the tech giants don’t “self-select” or choose their own products. A third bill would increase registration fees for merger assessments.
Senate Majority Leader Chuck Schumer, D-N.I., or House Speaker Nancy Pelosi, D-Calif., did not immediately respond to a request from Fox News to bring antitrust bills to the floor for a vote before the end of the year.
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