House lawmakers are preparing to propose a bipartisan law that could require Amazon.com Inc. and other tech giants to effectively split into two companies or phase out private label products, according to people familiar with the matter. and papers at The Wall Street Journal.
The bill could be announced on Friday. This may require a separate structure of Amazon and other large tech companies. That Congress took 15 months to review. As part of an investigation into the size and power of Big Tech, another bill that could be announced Friday targets the ability of big tech companies to leverage their online platforms to keep their products above the competition.
Each bill is signed by both Republicans and Democrats. More participation is expected when it is announced. According to a person familiar with the matter
Called the Ending Platform Monopolies Act, the proposed structural separation bill, reviewed by the Journal, said: “It is illegal for a covered platform operator to own or control a line. business In addition to the comprehensive platform When the platform is covered Ownership or control of a line of business creates an irreconcilable conflict of interest.” That language may change in the final bill.
The proposed legislation must pass the Democrat-controlled House and the Senate. which will likely require substantial Republican support. While Republicans are concerned about the power of tech companies. But many remain skeptical about the antitrust law change.