House Panel Says Tech Giants Hold Monopoly Power, Seeks to Break Them Up
Business ı By Marivic Cabural Summers
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Judiciary Antitrust Subcommittee’s Majority staff recommendations
The recommendations from the panel’s Democratic staff include:- Imposing structural separations to prohibit platforms from operating in lines of business that depend on or interoperate with the platform;
- Prohibiting platforms from engaging in self-preferencing;
- Requiring platforms to make their services compatible with competing networks to allow for interoperability and data portability;
- Mandating that platforms provide due process before taking action against market participants;
- Establishing a standard to proscribe strategic acquisitions that reduce competition;
- Improvements to the Clayton Act, the Sherman Act, and the Federal Trade Commission Act, to bring these laws into line with the challenges of the digital economy;
- Eliminating anticompetitive forced arbitration clauses;
- Strengthening the Federal Trade Commission (FTC) and the Antitrust Division of the Department of Justice (DOJ);
- And promoting greater transparency and democratization of the antitrust agencies.
Republicans oppose “a thinly veiled call to break up Big Tech firms.”
Republicans such as Representative Ken Buck of Colorado agree with Democrats that the existing antitrust laws need reforms. However, he strongly opposed some of their proposals particularly imposing structural separations and forbidding the tech giants from entering adjacent lines of businesses.
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