Index Investing News
Sunday, May 25, 2025
No Result
View All Result
  • Login
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
No Result
View All Result
Index Investing News
No Result
View All Result

Sen. Klobuchar’s Big Tech antitrust bill is up against a lot of Big Tech money

by Index Investing News
September 7, 2022
in Uncategorized
Reading Time: 3 mins read
A A
0
Home Uncategorized
Share on FacebookShare on Twitter


Amy Klobuchar’s antitrust push is not dead, the Democratic senator told Kara Swisher at the Code Conference on Tuesday.

“Never count us out when the cause is right and it’s something we need to tackle,” she said.

Klobuchar has been at the forefront of the antitrust push in Congress, sponsoring several bipartisan and bicameral bills aimed at Big Tech that would better regulate them and curb their immense power. Despite auspicious beginnings and what seemed to be a lot of bipartisan interest in passing at least some of those bills, they seem to have stalled out. Some haven’t made any progress at all; others are waiting for a floor vote that never seems to come.

“You need some kind of rules in place where you don’t have the gatekeepers also controlling who wins in the marketplace,” she said.

The American Innovation and Choice Online Act (AICO) is one of those bills, and it’s the one Klobuchar has arguably championed the most aggressively. It would ban dominant digital companies from giving their own products preference over those made by others on the platforms they own. So Amazon wouldn’t be allowed to put its own products higher up in search results in its Marketplace unless those products organically earned that spot, and Google wouldn’t be allowed to put its own maps or reviews above those offered by other companies in Google search results unless its maps and reviews earned that spot.

AICO is the only bill from the antitrust package to pass through both the House and Senate committee markups. As Klobuchar pointed out, it’s also the first competition bill since the beginning of the internet to advance to the Senate floor. All that’s left for it to head to the White House to get signed into law are two floor votes. In the Senate, it’s been waiting for a vote since January; in the House, it’s been waiting for over a year. Democratic leaders Rep. Nancy Pelosi and Sen. Chuck Schumer haven’t even scheduled a vote. It’s not clear why: Klobuchar and some of AICO’s sponsors, including Sen. Chuck Grassley (R-IA), say that the bill has enough votes between the two parties to pass the Senate. Schumer has said he’s not so sure about that, and won’t put it up for a vote until he is.

Klobuchar wouldn’t give an exact date for a vote or guarantee it’ll happen before midterms. She did say that the reason for the delay isn’t partisan dithering over content moderation, as has been reported. It’s the time it takes for even bipartisan bills to pass, and it’s the money. Specifically, the amount of money the companies her bill targets have spent fighting it through lobbying and ads.

“It is really hard to take on these subjects when you have the biggest companies the world has ever known, that control an inordinate part of the economy, opposed to it,” she said. “It is an incredible amount of money I’m up against. I have two lawyers. They have 2,800 lawyers and lobbyists. So I’m not naive about the David versus Goliath.”

But Klobuchar also suggested that the deadline many have cited for the bills to pass — the midterm elections, when Republicans are predicted to take control of one or both houses of Congress — may not be a hard and fast one. Plenty of Republicans want Big Tech to have some guardrails, and she thinks they’ll continue on if they get control. She also doesn’t see them getting that control in the midterms as a sure thing. Her suggestion to Big Tech companies was to make the same concessions in the United States that they’ve made in other countries before they have to.

“I believe in our country in the end,” she said.



Source link

Tags: antitrustBigBillKlobucharslotMoneySentech
ShareTweetShareShare
Previous Post

Rio Tinto must face Pentwater lawsuit in U.S. over Mongolia mine cost overruns (NYSE:RIO)

Next Post

Google post covid boom: is it actually cheap?

Related Posts

How long will JK Dobbins be out?

How long will JK Dobbins be out?

by Index Investing News
October 24, 2022
0

According to NFL Network correspondent Ian Rapoport on Friday, JK Dobbins is having knee surgery to remove damaged tissue from...

Virat Kohli stands tall as kingpin after India vs Pakistan T20 World Cup game that had everything | Cricket News

Virat Kohli stands tall as kingpin after India vs Pakistan T20 World Cup game that had everything | Cricket News

by Index Investing News
October 24, 2022
0

As India and Pakistan fans poured into the Melbourne Cricket Ground on Sunday, they created a monster crowd of over...

North American Union: Plan To Dismantle USA

North American Union: Plan To Dismantle USA

by Index Investing News
October 24, 2022
0

People are starting to realize that the collapse of the American border is not an accident. It can't be. When...

Trump Likened Relationship With Kim Jong Un To Having ‘Chemistry’ With A Woman

Trump Likened Relationship With Kim Jong Un To Having ‘Chemistry’ With A Woman

by Index Investing News
October 24, 2022
0

In new audio recordings released by journalist Bob Woodward, former President Donald Trump likened his relationship with North Korean dictator...

Newsom calls on Councilmembers De León and Cedillo to resign

Newsom calls on Councilmembers De León and Cedillo to resign

by Index Investing News
October 24, 2022
0

California Gov. Gavin Newsom on Sunday said L.A. City Councilmembers Kevin de León and Gil Cedillo should follow Nury Martinez...

Next Post
Google post covid boom: is it actually cheap?

Google post covid boom: is it actually cheap?

Seized Trump documents showed foreign nation’s nuclear capability | Donald Trump News

Seized Trump documents showed foreign nation’s nuclear capability | Donald Trump News

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED

Jamie Lynn Spears, Kate Gosselin To Star in ‘Special Forces’ Reality Show – Hollywood Life

Jamie Lynn Spears, Kate Gosselin To Star in ‘Special Forces’ Reality Show – Hollywood Life

September 7, 2022
Striking Hollywood writers fear AI will write them out of the script

Striking Hollywood writers fear AI will write them out of the script

May 5, 2023
Magellan Midstream: Impaired Leverage Ratios Despite Increasing Revenues

Magellan Midstream: Impaired Leverage Ratios Despite Increasing Revenues

November 8, 2022
California Burning: Causes and the Means Ahead

California Burning: Causes and the Means Ahead

February 1, 2025
Ex-UK PM Tony Blair Debunks The Crown Season 5 Scenes As ‘Rubbish’ – Deadline

Ex-UK PM Tony Blair Debunks The Crown Season 5 Scenes As ‘Rubbish’ – Deadline

November 6, 2022
Potential $ETH Santa Rally K Pump, $STARS Raises M

Potential $ETH Santa Rally $5K Pump, $STARS Raises $18M

December 16, 2024
Bitcoin withdrawals surpass deposits for the second time in six months

Bitcoin withdrawals surpass deposits for the second time in six months

June 16, 2023
Lack of relationships curbed NFL enthusiasm for Bill Belichick

Lack of relationships curbed NFL enthusiasm for Bill Belichick

February 7, 2024
Index Investing News

Get the latest news and follow the coverage of Investing, World News, Stocks, Market Analysis, Business & Financial News, and more from the top trusted sources.

  • 1717575246.7
  • Browse the latest news about investing and more
  • Contact us
  • Cookie Privacy Policy
  • Disclaimer
  • DMCA
  • Privacy Policy
  • Terms and Conditions
  • xtw18387b488

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In