Big Tech in focus next week as U.S. House panel votes on new bills

Reuters

Published Jun 16, 2021 11:25AM ET

Updated Jun 16, 2021 01:40PM ET

WASHINGTON (Reuters) -The U.S. House Judiciary Committee will vote next week on a package of recently introduced antitrust bills including several targeting the market power of Big Tech, committee chair Jerry Nadler said on Wednesday.

Five antitrust bills were introduced last week in the House of Representatives. They will be marked up in committee to consider changes and then voted on by the panel to decide whether the full House should vote on the measures.

Two of the bills introduced last week address the issue of giant companies, such as Amazon.com Inc (NASDAQ:AMZN) and Alphabet (NASDAQ:GOOGL) Inc's Google, creating a platform for other businesses and then competing against those same businesses.

These bills -- one of which would force companies to sell businesses -- have attracted the most opposition. Some pro-tech groups have said they could mean the end of popular promotions like Amazon Prime free shipping and iMessage in iPhones.

Representative David Cicilline, chair of the antitrust subcommittee, talked about a crisis given the power of Amazon, Apple (NASDAQ:AAPL), Facebook (NASDAQ:FB) and Google. "These modern day robber barons are growing their power from anti-competitive means," he said at a press conference flanked by Republican and Democratic colleagues.

A top antitrust Republican, Representative Ken Buck, said he had been skeptical of the need for additional antitrust enforcement but had changed his mind. "I think you're going to see more Republican support as folks understand the issue more," he said.