The bipartisan measure, passed by a 242-184 vote, pales in comparison with a more ambitious package aimed at reining in Meta,
The more limited bill would give states an upper hand over companies in choosing the location of courts that decide federal antitrust cases. Proponents say this change would avert the “home-court advantage” that Big Tech companies enjoy in federal court in
Many state attorneys general have pursued antitrust cases against the industry, and many states joined with the
The bill also would increase filing fees paid by companies to federal agencies for all proposed mergers worth
Under the bill, companies seeking approval for mergers would have to disclose subsidies they received from countries deemed to pose strategic or economic risks to
“We find ourselves in a monopoly moment as a country,” Rep.
The Biden administration, which has pushed for antitrust legislation targeting Big Tech, endorsed the bill this week.
Even in reduced form, the legislation drew fierce opposition from conservative
Rep.
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The broader antitrust package would restrict powerful tech companies from favoring their own products and services over rivals on their platforms and could even lead to mandated breakups separating companies’ dominant platforms from their other businesses. It could, for example, prevent
The drafting of that legislation marked a new turn in Congress’ effort to curb the dominance of the tech giants and anti-competitive practices that critics say have hurt consumers, small businesses and innovation. But the proposal is complex and drew objections to some provisions from lawmakers of both parties, even though all condemn the tech giants’ conduct.
Lawmakers have faced a delicate task as they try to tighten reins around a powerful industry whose services, mostly free or nearly so, are popular with consumers and embedded into daily life.
So with time to act running out as the November elections approach in about six weeks, lawmakers extracted the less controversial provisions on antitrust court venues and merger filing fees, putting them into the new bill that passed.
Lawmakers added the provision targeting foreign subsidies to
In the
“Effective antitrust enforcement is critical to ensuring consumers and small businesses have the opportunity to compete," Klobuchar said in a statement Thursday. “Enforcers cannot take on the biggest companies the world has ever known with duct tape and Band-Aids."
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