US Congress Pressed For Antitrust Laws Ahead Of Midterms

Congressional Democrats should press ahead and rein in tech giants as the companies seek to stall antitrust laws by arguing Americans care more about privacy than competition, reported Bloomberg. 

With US midterm elections looming over the political schedule, almost two dozen groups pressed lawmakers to address both corporate dominance and privacy issues in a letter to Senate Majority Leader Chuck Schumer and House Speaker Nancy Pelosi. 

“The truth is that people want true accountability, which requires action across the digital economy,” according to the letter released by Public Citizen and obtained by Bloomberg News. Other backers include Open Markets Institute, Public Knowledge and Center for Digital Democracy.

A package of bills limiting the power of tech giants is gaining momentum in Congress, though leaders are running out of time to pass major legislation before the midterms. That’s prompting industry groups to boost lobbying before lawmakers leave in August for the summer recess. 

One focal measure, the American Innovation and Choice Online Act, would prevent large tech companies from putting their own products ahead of those of competitors.

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.