August 8, 2022

Facing pressure from progressives and tech hawks on both sides of the aisle, Senate Majority Leader Chuck Schumer plans to hold a vote on a bipartisan antitrust bill targeting tech giants as early as this fall, according to the New report from New York Post Thursday.

The bill – the American Online Innovation and Choice Act (AICO) – would restrict dominant technology platforms, such as Amazon, Apple, Google and Meta, the parent company of Facebook, from favoring their products and services on their platforms over those of their competitors.

Earlier this year, Schumer pledged to hold a vote on the legislation this summer as long as there were 60 senators to approve it. But with Congress approaching the August recess, at least a dozen senators, including essential Democrats like Senator John Osoff (GA), were still on the fence, Washington Post I mentioned last month.

In a statement to the edge On Friday, a spokesperson for Schumer said, “Senator. Schumer is working with Senator Klobuchar and other supporters to gather the necessary votes and plans to put them to a vote.” Senators Amy Klobuchar (D-MN) and Chuck Grassley (R-Iowa) co-sponsor the bill.

With AICO nearing final approval, major tech companies have set out to spend, investing more than $35 million in lobbying Congress last year. Amazon, which will be prevented from artificially raising the rankings of its own-branded products, spent $4.98 million on lobbying in the second quarter alone, to me Bloomberg.

Schumer’s statement Thursday is the strongest indication yet that the Senate may approve antitrust unrest this year. But his commitment to holding an AICO vote did not come without pressure from progressives and supportive lawmakers on both sides of the aisle.

Last month , the edge She reported that more than a dozen leaders of the progressive bloc in Congress sent a letter to Schumer urging him to hold a vote before lawmakers leave Washington for August recess. But other Democratic priorities, such as budgeting and taking care of veterans, got in the way.

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