Sen. Josh Hawley (R-MO)
The “Trust-Busting for the Twenty-First Century Act” would ban extremely large companies from acquiring (both directly and indirectly), stocks or assets on any persons where the effect of the acquisition “may lessen competition in any way.”
The bill would also enhance the Federal Trade Commission’s enforcement authority over Big Tech, and it would ban tech companies that hold a dominant position from any merger in excess of $1 million. In addition, the bill would make it illegal for a dominant tech company to use “search functionality” to its advantage.
Finally, under this bill plaintiffs will no longer need to establish either the scope of the relevant market or the share of the market controlled by the defendant.
Decode Democracy supports Sen. Amy Klobuchar’s Competition and Antitrust Law Enforcement Act of 2021.