House panel looking for breakup of tech giants, says GOP member


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.

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