Live on capitol hill, the House Appropriations committee working on 2021 spending levels today. One of the measures they are working on his defense spending. 694. 6 billion, an increase of 1. 2 billion from 2020. Congressman a nita lowey chairs the committee. I will say good morning again. I call this meeting of the committee of appropriations to order. Before we begin, house rules require me to remind you that we have set up an email address to which members could send anything they wish to submit in writing. That email address has been provided to your staff. Our first order of business is consideration of the department of defense appropriations bill for fiscal. Ear 2021 thank you madam chairwoman. Remarks, igin my reluctantly have to acknowledge this will be my final Opening Statement before the House Appropriations committee. I have no new revelations to make but for those of you who will remain on this committee, there are a few things i would like to say. He saved the conditiona
Industry. They took questions about the use of thirdparty seller data and allegations of anticonservative bias. The subcommittee will come to order. Without objection, the chair is authorized to declare recess at any time. Welcome to todays hearing on marketing power. Amazon, apple, facebook, and google. I would like to remind members we have established a distribution list dedicated to circulating specific motions or other written materials members might want as part of our hearing today. If you would like to submit materials, submit them to the email address distributed to your offices. We will circulate materials as quickly as we can. Thatld also remind members face coverings are required for all meetings in an enclosed space such as Committee Hearings. I expect all members on both sides of the aisle to wear a mask except when you are speaking. I recognize myself for an opening bateman Opening Statement. This committee launched an investigation into Digital Markets to document compe
Moment or someone will be caught offguard. There will be several rounds of questioning after the Opening Statements. We have seen the testimony of all four of the ceos. There is a similar theme. These ceos are emphasizing that they are facing competition all all on all fronts. Tech is the most Competitive Industry in the world. In every facet of every business they run, they talk about how they face competition. Mark zuckerberg focuses on china saying that if there is too much regulation, that will give Chinese Companies an advantage. The ceo of alphabet talking nott how google does necessitate competition. Tim cook talking about the app store, the opportunity that it has given companies around the world and the fact that the vast majority of apps in the app store are free. Jeff bezos his testimony is different. He talks about a personal story. How his parents invested in amazon in the day. A truerican has american story. This is a first time we will see him testify before congress. He
Preparations committee worked on 2021 spending today, earlier they debated interior and Environmental Department spending which included several amendments, your congresswoman chairs the committee. Good morning. I called a meeting on appropriations to order. And before we begin, they require me to remind you we have set up an email address to which members can send anything they wish to submit in writing at any of our hearings or markups. The email address has been provided to your staff. First, consideration of the interior environment appropriations bill, fiscal year 2021. I will now recognize ms. Mccowan to present the bill. Good morning. I want to thank Ranking Member, for his strong collaboration of partnership throughout this entire process. Been a great partner from the great lakes and a little geography being social studies teacher, it borders with the great state of ohio, lake erie and in minnesota, we border on lake superior. Id like to thank all members of our subcommittee f
Lot going on as stuart did tell you that whole hearing where the tech giants will gather virtually at least. It is parked back maybe half an hour. I was doing back of the napkin guesstimating on their wealth. That is on, i think is worth about 180 billion. Our Charlie Brady follows this thing would know to the penny. I think it is roughly about that. Mark zuckerberg facebook, close to 90 billion, close to 2 billion, tim cook of apple, thanks to appreciation of that stock, he is at around 2 billion. So lets say you were to add all of this. These are numbers. I added it all up. That is 272 billion collectively. These are among the richest men on the planet, particularly when it comes to bezos and zuckerberg. But putting companies combined market cap at north of 5 trillion. If you were to add microsoft to that bunch, microsoft will not be part of this hearing. They represent the five most valuable companies in the world. Isnt that amazing . Youre welcome america. We have this delay. We ha