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Big Tech bill advocates and critics keep pressure on U.S. lawmakers

WASHINGTON (Reuters) - Supporters of a U.S. bill aimed at reining in Big Tech platforms like Amazon.com (NASDAQ:AMZN) and Alphabet (NASDAQ:GOOGL)'s Google have flooded lawmakers...
Big Tech bill advocates and critics keep pressure on U.S. lawmakers © Reuters. FILE PHOTO: The logos of Amazon, Apple, Facebook and Google in a combination photo/File Photo

WASHINGTON (Reuters) - Supporters of a U.S. bill aimed at reining in Big Tech platforms like Amazon.com (NASDAQ:AMZN) and Alphabet (NASDAQ:GOOGL)'s Google have flooded lawmakers with nearly 4,000 phone calls, while critics of the legislation sent a letter telling senators it would "harm consumers."

Versions of the bill have progressed further than any previous Big Tech antitrust legislation, with strong bipartisan support in the House of Representatives and Senate. The legislation seeks to bar companies from favoring their own businesses in search results and other ways.

Both Senator Amy Klobuchar and Representative David Cicilline, lead sponsors in each chamber, have predicted that their bills have enough support to pass Congress, if they come to a vote.

But the Senate has other matters on the calendar. Negotiators are close to a deal on gun control, and Senate Majority Leader Chuck Schumer has promised quick action on any bipartisan deal. That likely would take up much of this week's Senate floor action once the bill is introduced.

To keep the pressure on, advocates for the Big Tech bill organized for small and medium-sized businesses and others to contact lawmakers via email - which 26,000 of them did, according to Evan Greer of the group Fight for the Future.

Fight for the Future and other advocacy groups also arranged for supporters to make 3,900 calls to lawmakers, Greer said.

Opponents have also kept up the pressure.

A long list of former antitrust enforcers who now teach economics, law, or business, sent a letter to senators Monday saying that the bill "is likely to reduce innovation and harm consumers."

Signatories include Doug Melamed and Carl Shapiro, both of whom previously served in the Department of Justice's antitrust division.

Since the beginning, the bills have been the subject of intense lobbying, with opponents warning of dire consequences such as an inability to protect consumers from hackers and privacy violations. Advocates say the legislation is needed to prevent stagnation in the technology market.

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26-06-2022 17:52:06 (UTC+7)

EUR/USD

1.0554

+0.0031 (+0.29%)

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EUR/USD

1.0554

+0.0031 (+0.29%)

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GBP/USD

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USD/JPY

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AUD/USD

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Silver Futures

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US Coffee C Futures

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Euro Stoxx 50

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S&P 500

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DAX

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FTSE 100

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21,719.06

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US Small Cap 2000

1,765.74

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IBEX 35

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BASF SE NA O.N.

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Bayer AG NA

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Adidas AG

170.36

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Siemens AG Class N

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 EUR/USD1.0554Buy
 GBP/USD1.2272↑ Sell
 USD/JPY135.23↑ Buy
 AUD/USD0.6944↑ Sell
 USD/CAD1.2891↑ Sell
 EUR/JPY142.71↑ Buy
 EUR/CHF1.0114↑ Sell
 Gold1,828.10↑ Buy
 Silver21.130Sell
 Copper3.7365Sell
 Crude Oil WTI107.06↑ Sell
 Brent Oil113.19↑ Sell
 Natural Gas6.173↑ Buy
 US Coffee C223.40↑ Buy
 Euro Stoxx 503,533.17Neutral
 S&P 5003,911.74↑ Buy
 DAX13,118.13↑ Sell
 FTSE 1007,208.81↑ Buy
 Hang Seng21,719.06↑ Buy
 Small Cap 20001,765.74↑ Buy
 IBEX 358,244.10Sell
 BASF42.215↑ Buy
 Bayer57.79↑ Sell
 Allianz181.20↑ Sell
 Adidas170.36↑ Sell
 Lufthansa5.966↑ Sell
 Siemens AG102.62↑ Buy
 Deutsche Bank AG8.919↑ Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,760/ 6,840
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SJC HCM6,785/ 6,865
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SJC Hanoi6,785/ 6,867
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SJC Danang6,785/ 6,867
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SJC Nhatrang6,785/ 6,867
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SJC Cantho6,785/ 6,867
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Cập nhật lúc 17:49:23 26/06/2022
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