Sen. Amy Klobuchar believes antitrust reform is what it will take to preserve what she calls American capitalism.
The powerful chair of the Senate antitrust subcommittee has introduced and co-sponsored legislation that could alter liability protections for digital firms, put guardrails on health data use, require online political ad transparency and give publishers leverage in negotiations with tech platforms. And when she discusses her signature issue antitrust reform the Minnesota Democrat often links it to other concepts like data privacy, media industry fairness and even the first amendment.
“Technologies are controlled by a handful of companies that have amassed unprecedented power,” said Klobuchar during her Jan. 29 State of the Net Conference keynote. Tech giants have control of “gateways over our personal data, power over what ads we see and what news we watch and monopoly power in key digital markets.”
The Sherman Act was passed in 1890. The Clayton Act in 1914. And they have hardly changed since. Last month, Senator Amy Klobuchar, the new chair of the Senate Judiciary Committee’s.
Last month, an antitrust law overhaul was proposed: the Competition and Antitrust Law Enforcement Reform Act. CLERA constitutes the most significant change to antitrust law in ahwhile. In particular, it poses substantial new antitrust concerns for tech companies seeking to engage in standard M&As.
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New chair of US Senate Judiciary antitrust subcommittee takes aim at Big Tech
Amy Klobuchar introduces legislation to prevent monopoly market domination
Will prevent buy-out of rivals just to close them down and stymie competition
Doubles the budgets of two regulatory bodies
If the Big Tech companies thought they might avoid the levels of scrutiny and regulation that were looming over them when Donald Trump left office, they were foolishly mistaken. It is already evident that the Biden administration will take an equally tough, or even tougher, stance against them. President Joe Biden himself is known to be suspicious of the size, power and market domination of the likes of Amazon, Apple, Facebook and Google and his choice as the chairperson of the powerful Senate Judiciary antitrust subcommittee, Senator Amy Klobuchar of Minnesota, reflects that unease.