Amazon and other tech giants could be forced to either split their businesses into two companies or ditch their private-label goods under a new bipartisan bill pushed by House lawmakers, wall street journal Report.
The bill has yet to be announced, but sources told the publication that an announcement was expected on Friday.
Under the bill, which was currently called the Ending Platform Monopoly Act, it would prevent tech giants such as Amazon, Apple and Google from “controlling or controlling a line of business, other than the covered platform, when covered That line of business owning or controlling the Platform gives rise to an irreconcilable conflict of interest.”
Instead, these companies would be mandated to divest their business or give up their private-label products.
Big Tech has faced serious scrutiny from Congress last year for monopolizing specific companies over their respective industries.
Congress was considering several bills to address concerns related to Big Tech, and another bill for consideration would target the ability for these big companies to leverage their products on their online platforms over other competitors’ products. .
According to wall street journalBoth proposed bills have the support of Democratic and Republican lawmakers within the House of Representatives.
Credit: www.independent.co.uk / Amazon