A House panel led by Democrats investigating the competition in the technology sector is set to propose comprehensive reforms to block veterans. Amazon.com Inc. And Apple Inc both own their own marketplaces and are selling their own products on them, according to criticism from recommendations by a Republican member of the subcommittee.
Criticism and panel reports are still drafts and the contents of both are subject to change. It is unclear which members will support the report, which has been delayed due to last-minute information about its release. Facebook Inc., CNBC previously reported. The report was expected this week, but according to a person familiar with the matter, it was pushed back.
The recommendations, which represent the most dramatic overhaul of competition law in decades, if approved, are the result of an annual investigation by a House antitrust panel led by Democratic Representative David Cicillin. This investigation is coming to its conclusion because federal and state anti-disbelievers are also investigating Alphabet Inc.’s Google and Facebook.
Cosilyn’s recommendations would include what he called a Glass-Steagall law for technology platforms, according to the draft discussion letter from Republican Representative Ken Buck of Colorado, previously reported by Politico and obtained by Bloomberg. Buck said some others in the recommendation and staffing reports would be “non-starters” for the GOP. Glass-Steagall refers to Depression-era legislation that separates commercial and investment banking.
According to Buck, Sicilyan’s proposal would prevent tech companies from entering various lines of business and evading companies. For example, Amazon will be prevented from selling its products on its market, while Google cannot own both the world’s largest search engine and YouTube. And Apple will be barred from owning the App Store and offering its own apps.
Buck wrote in the discussion, “To create competition in the tech market, the primary measure of majority is legislation.” Buck stated that he agrees with Sicilyan on the need to curb the power of technology companies and agrees with some measures such as giving more resources to the competitor.
Sisilyn and Buck spokespeople did not immediately respond to requests for comment.
Cicilline In an interview in August told Bloomberg that companies engage in “intensely disturbing” misuse of their dominance to crush rivals. The panel issued information requests, containing pages of millions of documents and seven hearings, including one in July that testified by chief executives of Google, Facebook, Amazon and Apple.
According to Buck, the draft report would recommend legislation allowing tech companies to easily allow users to move their data from one website to another. It recommends legislation to shift the burden of proof in merger cases to tech companies, increasing market share in certain mergers for buyers by 25%, overturning the Supreme Court and other decisions that critics The clause in the service context is to say that enforcement agencies are hindered in preventing the merger and ending arbitration.
In addition to the Cicillin investigation, federal and state antitrust defendants are set to file a landmark monopoly lawsuit against Google, and additional cases may be in the pipeline, Bloomberg said. Reported. The US Federal Trade Commission is Is preparing a possible case against Facebook. And Amazon and Apple are facing inquiries by anti-federal authorities.
It was not immediately clear whether other committee Republicans, the top ranking of GOP members, would join Buck’s recommendations. Jim Sensenbrenner, the top Republican representative in the subcommittee The October 1 hearing stated that he and Cicillin “ultimately disagree on the future of antitrust law.”
Rep. Jim Jordan, the top Republican on the Judiciary Committee, which includes the antitrust panel, has been repeatedly Reportedly used an inquiry hearing against companies to silence conservatives. Buck, in the report, expressed concern about “censorship” across the political spectrum and specifically cited “bias” against conservative outlets and personalities.
Buck said Democrats would recommend a ban that would be difficult for tech companies to develop to acquire other firms. While Buck did not detail the majority’s proposal, he described it as “shifting the burden of proof in merger cases”.
During their investigations, committee members often complained that tech companies had succeeded in gaining promising startups with little or no scrutiny from antitrust inputs.
At a recent hearing, a former head of the Department of Justice’s Antitrust Division said the courts had made it nearly impossible to prevent the government from acquiring key competitors and suggested that it would put a burden on buyers to prove it Will happen. Will be good for the competition. This can make it easier for antitrust enforcers to block deals.
Buck said he supported a burden-shifting approach, adding that Congress should gather more information on another proposal by Democrats: a ban on the acquisition of future rivals start upS, such as Facebook’s acquisition of Instagram. Such restriction will be prevented start upEarn profits from their ideas by selling to another company, and reduce incentives to return to investors start upS, Buck said.
The report’s recommendations face a tough fight. With time running out in this Congress, there will be no substantive legislative action until 2021. They will likely run into Republican long-held suspicions about changing antitrust legislation. Even if the election cedes to the Democrats by Senate majority, Republicans can still use procedural tools to prevent them from passing the bill.
(Updates with more recommendations, the status of federal investigations and the possibility of action from the 10th paragraph. An earlier version of this story was corrected to show that the panel held seven hearings)