Biden ‘encouraged’ by bipartisan big tech crackdown, White House says
A group of lawmakers recently introduced sweeping antitrust legislation
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The White House on Tuesday said President Biden has been "encouraged" by bipartisan work in Congress aimed at addressing issues created by some of the country’s largest technology companies.
The president believes in the need to "protect privacy, generate more innovation, and ensure tech companies can grow in the U.S.," the White House added.
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Recently, a bipartisan group of House lawmakers introduced several antitrust measures, including one designed to potentially break up large tech companies operating businesses with conflicts of interest.
Another bill in the package would prevent companies from exercising self-preference of their own products on their platform, while a third would increase scrutiny over mergers.
Lawmakers also proposed increasing filing fees paid to antitrust agencies for merger reviews and allowing users to transfer information between major platforms.
The proposals, in general, are believed to be aimed at Google, Apple, Facebook and Amazon, affecting companies only with a $600 billion market value and 500,000 or more monthly active users.
Meanwhile, there are numerous ongoing efforts in court to try to ensure that companies do not engage in monopolistic behaviors.
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During his run for president, Biden suggested he might consider dismantling big tech companies.
He recently tapped Lisa Khan, known as a big tech critic, to head the Federal Trade Commission, which has been interpreted as a signal of where he stands on the need for potential regulation.