Press reports suggest that Congress might vote on pending antitrust legislation this summer. The bill that is receiving the most attention is S.2992, The American Innovation and Choice Online Act (AICOA). Sen. Amy Klobuchar (D-MN)—disclosure: we went to law school together—has been a key proponent for the legislation. (You can get the current draft of the bill at her Senate website.)
We are sufficiently far in this process that basic features of how the bill would operate should by now be well understood, yet I am not sure that is true. I have written about this here before roughly a year ago, but it is time to update, especially in light of recent developments in Europe.
The bill would alter competition by the big tech firms. The language of the bill speaks of “covered platforms” and the goal here is to create new obligations that would limit the gatekeeper power held by the platforms. That also has been the focus of the European Union Digital Markets Act, which seems to be moving towards becoming law in Europe.
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