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'Big Tech' Bill Goes To Senate

US

The American Innovation and Choice Online Act has passed through the Senate Judiciary Committee with a 16-6 vote.

  • If the bill passes the Senate it would be a major blow to tech companies.
  • It is unclear whether the bill will get the support it needs to pass the Senate but attacking big tech could be a vote-winner ahead of the midterms. Public opinion toward the tech giants has soured as both tech profits and inflation rise.
  • Passing new anti-trust laws will be a huge challenge for Democrats but this would be a welcome victory if they can gather support and fast-track it to the floor.
  • The bill would prohibit big tech companies from favoring their own services on platforms they operate.
  • It would target a handful of tech giants including Facebook, Spotify, Apple, Google, and Amazon.
  • The vote took place after intense lobbying from the tech firms, including Apple CEO Tim Cook, which will be affected by a new antitrust law.

MNI London Bureau | +44 203-865-3850 | adam.burrowes@marketnews.com
MNI London Bureau | +44 203-865-3850 | adam.burrowes@marketnews.com

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