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Meta Platforms:Regulatory Environment: Difference between revisions
Meta Platforms:Regulatory Environment (view source)
Revision as of 19:00, 19 July 2024
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=== <big>BI Partisan Support New Bills</big> === | === <big>BI Partisan Support New Bills</big> === | ||
=== Antitrust Law Enforcement Reform Act === | |||
=== American Innovation and Choice Online Act === | |||
The '''American Innovation and Choice Online Act''' aimed to curb anti-competitive practices by major online platforms. '''It had bi partisan support and it still failed to even reached congress.''' <ref>https://www.billtrack50.com/billdetail/1391362</ref><blockquote>The American Innovation and Choice Online Act (“AICOA”)(S.2992 / H.R.3816) failed to pass because of serious privacy, security, and content moderation problems that were identified early on but never adequately addressed by sponsors and supporters. | |||
The collapse of AICOA illuminates the fundamental problem with current antitrust efforts in Congress. For decades courts and antitrust agencies have put consumers first in their evaluation of competition in the economy. This attention to the consumer welfare standard has led to tremendous benefits for innovation and the broader economy. Current lawmakers are instead obsessed with the size or conduct of specific companies and how to exert pressure on them or break them up. It is time for Congress to return to basic economics and promote antitrust efforts from a grounded, evidence-driven perspective or the failures of this legislative approach will be repeated in the new Congress.<ref>https://project-disco.org/competition/010623-aicoas-failure-and-the-future-of-competition-policy-in-congress/</ref></blockquote> | |||
==== Sponsors ==== | |||
Amy Klobuchar (D)*, Richard Blumenthal (D), Cory Booker (D), Steve Daines (R), Dick Durbin (D), Lindsey Graham (R), Chuck Grassley (R), Josh Hawley (R), Mazie Hirono (D), John Neely Kennedy (R), Cynthia Lummis (R), Jack Reed (D), Mark Warner (D), Sheldon Whitehouse (D) | |||
Here are the key changes it proposes: | |||
# '''Prohibit Self-Preferencing''': Large platforms cannot unfairly prioritize their own products and services over those of competitors. | |||
# '''Ensure Fair Access''': Requires platforms to provide fair access to their services, preventing them from blocking or disadvantaging competitors' products. | |||
# '''Transparency Requirements''': Platforms must be transparent about their algorithms and data usage practices. | |||
# '''Strengthen Enforcement''': Enhances the ability of the FTC and DOJ to enforce these rules with increased authority and resources | |||
=== Competition and Antitrust Law Enforcement Reform Act === | === Competition and Antitrust Law Enforcement Reform Act === | ||
== References == | == References == | ||