Senate one step closer to approving Big Tech antitrust bill

Senate Majority Leader Chuck Schumer is reportedly facing pressure from progressives and tech hawks in both parties to vote on a bipartisan antitrust bill targeting tech giants as early as this fall. a new report New York Post Thursday.

The bill — the American Innovation and Choice Online Act (AICO) — would restrict major technology platforms such as Amazon, Apple, Google and Facebook’s parent company Meta from favoring their own products and services over competitors’ products and services on their platforms. Serve.

Earlier this year, Schumer vowed to put the legislation to a vote this summer, as long as 60 senators approve it. But as Congress approaches its August recess, at least a dozen senators, including essential Democrats like Sen. Jon Ossoff (R-Georgia), remain on the sidelines, Washington post reported last month.

in a statement edge On Friday, a spokesman for Schumer said, “Senator. Schumer is working with Senator Klobuchar and other supporters to collect the required ballots and plans to put them to the polls.” Sens. Amy Klobuchar (D-MN) and Chuck Grassley (R-IA) are co-sponsors of the bill.

With the AICO nearing final approval, major tech companies have embarked on a spending spree, spending more than $35 million last year on lobbying Congress. Amazon will be banned from artificially boosting the rankings of its private-label products, spending a record $4.98 million on lobbying in the second quarter alone, according to Bloomberg.

Schumer’s statement on Thursday was the strongest signal yet that the Senate could approve this year’s antitrust upheaval. But his commitment to holding the AICO vote was not without pressure from progressives and pro-lawmakers on both sides of the aisle.

last month, edge More than a dozen leaders of the Congressional Progressive Caucus sent a letter to Schumer urging him to hold a vote before lawmakers leave Washington for the August recess. But other Democratic priorities, such as budget coordination and veterans care, got in the way.

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