Conservative U.S. Sen. Josh Howell has unveiled a bill that would bar companies worth more than $ 100 billion from buying and merging with other companies. He wants to stop tech giants such as Apple, Amazon, Facebook, Microsoft and Google from growing.
According to the website AxiosMr Howell’s plan also strengthens antitrust laws by raising fines and lowering the threshold for legal standards. For example, corporations prosecuted by federal law will focus on protecting competition in the market rather than on existing standards for harming consumers.
Under the new bill, companies that fail in anti-monopoly cases will have to relinquish all profits from their anti-competitive behavior. In addition, the Federal Trade Commission will find new legal tools to control large technology companies.
“This country and this government should not be run by a few big companies,” Josh Howell said in a statement. The Republican Party must once again become a party to oppose monopolies. “You know this is part of our history.”
Reuters news agency Says Mr. Hawley has also targeted large companies in the pharmaceutical industry. The industry is currently run and controlled by several very large companies. The Missouri senator’s proposed bill is similar in size and scale to a bill introduced by Sen. Amy Klobuchar in February. Klobuchar currently chairs the Senate Judiciary Subcommittee on the monopolistic behavior of large corporations such as Apple, Amazon, Facebook, Google and Twitter.
Large technology companies at various levels and in the courts face numerous antitrust lawsuits. U.S. lawmakers have been seriously monitoring the performance of these companies for several months, and it does not look like they will give up any time soon.