Senate Gets Closer to Disrupting Big Tech Monopoly

The US Senate Majority Leader Chuck Schumer is reported to be preparing to hold a vote on the bipartisan antitrust bill targeting tech giants as early as this autumn.

The Verge reports that the American Innovation and Choice Online Act (AICO) would restrict dominant tech platforms, like Amazon, Apple, Google, and Facebook’s parent company Meta, from favoring their own products and services on their platforms over those of their competitors.

Sen. Schumer is working with Sen. Klobuchar and other supporters to gather the needed votes and plans to bring it up for a vote,

a Schumer spokesperson told The Verge.

Big Tech’s Lobbying Expenses Rose by 15% in H1

Amazon spent a record $4.98 million on lobbying in Q2 as Congress intensified efforts to pass legislation intended to crack down on technology giants.

Durov's CodeArtem Andryanov

Previously, Schumer pledged to hold a vote on the legislation this summer, but so far, has not been able to gain the necessary support. Amid senators' indecisiveness on whether to target big tech, the companies are spending more and more on lobbying. In the second quarter alone, Amazon spent a record-breaking $4.98 million in lobbying.