Last week the US House Judiciary Committee introduced five bills to break up and tighten regulation on big tech companies. This is a critical step in helping to provide an even business environment for local independent business. These bills are likely to go to full committee vote in the next week. Small Business Rising – a coalition of independent business groups, small business owners, and entrepreneurs from across the country and a wide variety of industries – urges legislators to support the package. There is an urgent need for this legislation, and the following three bills will bring vast benefits to small businesses.
- Ending Platform Monopolies Act: This bill eliminates the ability of tech giants, like Amazon, to leverage control over multiple business lines. This structural separation (break up) bill prevents dominant platforms from abusing their dominance to favor their own products, services, and business lines. This is critical to stopping Amazon’s anticompetitive tactics against independent, small businesses and safeguarding independent businesses right to compete and serve the needs of our communities.
- American Innovation and Choice Online Act: This bill prohibits discriminatory conduct by dominant platforms, including banning self-preferencing and picking winners and losers in the digital marketplace. It works in conjunction with a structural separation bill by establishing protections to prevent dominant platforms from excluding smaller competitors or impeding their ability to compete.
- Platform Competition and Opportunity Act: The bill sets a high bar for approving mergers by corporations that are already large and dominant in their industries, and helps stop further consolidation, allowing small and independent businesses to compete.
Concentrated market power is a big threat facing independent businesses. These bills are a step toward restoring competitive markets and unlocking the potential of Americans to grow successful businesses and build an economy that is more prosperous, equitable, and innovative. This is a historic opportunity to restore the competitive markets and shape the dynamic business districts that we all enjoy.