Antitrust Bill Postponed for This Fall

Antitrust is a hot topic within congress before the legislative body goes on recess this August. The relatively bipartisan antitrust bill which will be targeting the largest tech companies throughout the United States is being pushed to the floor before a busy fall election season, however, many are beginning to believe that there won’t be time to hold a vote until Congress returns this fall.

The bill would largely target Apple, Amazon, and Google, in an attempt to prevent these companies from predominantly advertising products produced by the companies themselves while leaving other distributors in the shadows. This has become a serious concern as throughout Amazon’s massive e-commerce platform, the Apple app store, and Google’s search engine these companies are capable of shutting out any competitive producers.

The bill is mainly supported by the Democratic Party with some Republican support, however, a large portion of the Republican party argues that congress should refrain from affecting the free market but rather let it thrive while giving consumers the decision to spend money where they want.

The bill will likely be voted on this fall once congress returns from recess. Concerns are looming as to whether within this time the republican party will gain a majority throughout the legislative body and thus shut down the bill.

Source: Bloomberg