5.4 C
London
Sunday, December 4, 2022

Progressives pressure Schumer to vote on antitrust laws

Must read

Biden’s primary calendar for 2024 could be good news for Kamala Harris

WASHINGTON — President Joe Biden's effort to make South Carolina the first major battlefield in the Democratic presidential primary has a second major beneficiary:...

Climate technology is not doomed, despite climate calamity • londonbusinessblog.com

Veteran investor Dan Goldman tells climate tech founders to watch the money and the carbon In the climate tech world, Dan Goldman has seen just...

Who is Leonard Gordon? Untold Details About Rita Moreno’s Late Husband

Leon Gordon was a cardiologist and an internist who is best recognized as the husband of a Puerto Rican actress, dancer and singer Rita...

Treasury management should be top of mind for startup founders • londonbusinessblog.com

Michael Dobrowski Contributor Michael Dombrowski is the corporate treasury advisor at Rho. He is an SEC registered investment advisor specializing in fixed income investments and...
Shreya Christinahttps://londonbusinessblog.com
Shreya has been with londonbusinessblog.com for 3 years, writing copy for client websites, blog posts, EDMs and other mediums to engage readers and encourage action. By collaborating with clients, our SEO manager and the wider londonbusinessblog.com team, Shreya seeks to understand an audience before creating memorable, persuasive copy.

With a months-long hiatus ahead, House progressives are urging Senate minority leader Chuck Schumer to act quickly on two competition laws that would better equip antitrust enforcers to tackle big tech companies.

In a letter sent to Schumer on FridayMore than a dozen leaders of the Congressional Progressive Caucus urged the Senate majority leader to schedule a vote on two bills in the coming weeks.

“It is time for Congress to vote on this legislation,” the lawmakers wrote. “These bills are up for vote and we urge you to schedule the vote on them in the coming weeks.”

The bills — the American Innovation and Choice Online Act (AICO) and Open Markets Act — were enacted after a 16-month congressional investigation into possible anticompetitive behavior by Amazon, Apple, Google and Facebook’s parent company Meta. If adopted, AICO would prevent dominant platforms from favoring their own products or services over those of their competitors on their own platforms. In addition, the Open Markets Act would prohibit companies like Apple and Google that operate app stores from creating onerous and expensive rules for developers.

In May, axios reported that Schumer planned to vote on AICO this summer as long as there were 60 senators who would vote to approve it. But last week, The Washington Post reported that at least a dozen senators, including necessary Democrats like Senator Jon Ossoff (D-GA), were undecided on how they might vote. Without the support of every Democrat and ten Republicans, the measures could not overcome the filibuster and would fail on the floor.

That’s what Democrats like Rep. Pramila Jayapal (D-WA) and Senator Amy Klobuchar (D-MN), an AICO author, didn’t hold back from pressuring their Senate colleagues to support the bill that they say has overwhelming support from both progressive and liberal. conservative voters.

Last week, 16 Schumer demanded that he withdraw from any antitrust law that would regulate major tech companies, according to Bloomberg. The groups said he had a conflict of interest because his daughters work at Meta and Amazon.

In a nearly hour-long speech on the floor this week, Klobuchar emphasized the urgency of passing her bill. “These dominant technology platforms have abused their power for years and now we are at a crossroads,” Klobuchar said. “Will America continue to be a place where entrepreneurs advance our economy or will we become a country where a handful of monopolists dictate who gets a chance to succeed?”

The future of the bills remains unclear. With soaring legislative priorities — from budget alignment to codification of same-sex marriage — the time to submit the competition bills for a bottom vote is quickly shortening. If the antitrust reform is not passed before August, the bills are unlikely to pass this year as lawmakers focus on this year’s midterm elections.

In a press conference on Wednesday, Schumer remained noncommittal. “I support these bills. I want to take them to the floor,” Schumer told reporters. “We need to see if we have 60 votes.”

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest article

Biden’s primary calendar for 2024 could be good news for Kamala Harris

WASHINGTON — President Joe Biden's effort to make South Carolina the first major battlefield in the Democratic presidential primary has a second major beneficiary:...

Climate technology is not doomed, despite climate calamity • londonbusinessblog.com

Veteran investor Dan Goldman tells climate tech founders to watch the money and the carbon In the climate tech world, Dan Goldman has seen just...

Who is Leonard Gordon? Untold Details About Rita Moreno’s Late Husband

Leon Gordon was a cardiologist and an internist who is best recognized as the husband of a Puerto Rican actress, dancer and singer Rita...

Treasury management should be top of mind for startup founders • londonbusinessblog.com

Michael Dobrowski Contributor Michael Dombrowski is the corporate treasury advisor at Rho. He is an SEC registered investment advisor specializing in fixed income investments and...

Fortnite: Chapter 4 has a new island, dirt bikes and Geralt of Rivia

The most notable change is the brand new island, which features a number of new points of interest, such as a citadel featuring a...