December 7, 2021

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US Senate Introduces Bill to Restrict Links to Large Technology Companies - 11/05/2021 - Market

US Senate Introduces Bill to Restrict Links to Large Technology Companies – 11/05/2021 – Market

Two senators introduced a two-party bill United States Seeks to make it more difficult Large technology companies Acquisition.

The office of Democratic Senator Amy Globuscher, chair of the Senate’s competition protection committee, announced this Friday (5) that she and Republican Tom Cotton had sent a bill targeting companies such as the Alphabet (Google owner). Facebook.

This text makes it easier for the government to prevent contracts that may violate the terms of the trust by proving in the courts that the transaction is in favor of competition.

A similar bill, introduced by Democrat Hakeem Jeffries and colleagues, has been passed in the House Judiciary and is awaiting a vote.

Traditionally, it has been the government and its distrustful force that have proved that a particular transaction may or may not be responsible for the price increase.

“We see more companies wanting to buy competitors than competing with them,” Globuscher said.

“This bipartisan plan will put an end to these anti-competitive acquisitions by making it harder for key digital platforms to eliminate competitors.”

Other projects have already sought to control the market power of large technology companies. Although none of them have become law, one of them, which increases resources for officials, was passed by the Senate.

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