Majority Leader Chuck Schumer has confirmed on the file he’ll put the antitrust invoice designed to rein in Big Tech up for a vote — possible within the fall — The Post has realized solely.
“Sen. Schumer is working with Sen. (Amy) Klobuchar and other supporters to gather the needed votes and plans to bring it up for a vote,” Angelo Roefaro, Schumer’s spokesperson, informed The Post in a assertion referring to antitrust legislation.
A Hill supply shut to the legislation says there are nonetheless some considerations that want to be ironed out — like worries that cracking down on tech may additionally damage the businesses’ content material moderation efforts.
The supply additionally informed The Post that Democrats are fearful about getting sufficient Republicans for the 60 votes wanted to cross the invoice — which implies Democrats within the 50-50 Senate want to be “airtight.”
Schumer’s on-the-record dedication comes after The Post reported the invoice’s prime Republican backer, Sen. Chuck Grassley of Iowa, slammed Schumer for dragging his ft.
“It’s past time that the Majority Leader bring up our bipartisan antitrust bill cracking down on Big Tech’s anticompetitive behavior,” Grassley informed The Post final month. “We need a date certain for a vote, and I call on Sen. Schumer to name one — if not before August recess, then this fall.”
After years of pushing for the legislation, antitrust advocates are thrilled by the promise that Schumer will transfer the legislation ahead.
“It’s clear that what hasn’t killed this bill made it stronger,” Luther Lowe, senior vice chairman of Public Policy at Yelp, informed The Post. “Hundreds of millions have been spent to slow down this legislation and those efforts haven’t worked.”
Even as Schumer publicly applauded the legislation, saying it’s a “high-priority,” he had delayed bringing something to the ground regardless of reports he would move the legislation forward earlier this summer time.
The bipartisan invoice, co-sponsored by Grassley and Klobuchar (D-Minn.), would scale back the facility of tech giants like Amazon and Meta to stifle market competitors.
The Internet Innovation and Choice Act — or so-called “non-discrimination bill” — would cease platforms from “self-preferencing” their content material. For occasion, Amazon would not have the ability to promote its personal items over third-party sellers on its e-commerce platform.
Last Saturday, Klobuchar mentioned on MSNBC she and Schumer have mentioned bringing the invoice to the ground within the fall.
While Schumer has bided his time, Amazon, Apple, Meta and Google mixed have spent greater than $35 million in simply the primary half of this year on lobbying efforts, Bloomberg reported final week. The corporations have additionally flooded Beltway airwaves with commercials opposing antitrust payments and acquired up advert space in influential newsletters like Politico Playbook.
The Post was first to report that each of Schumer’s daughters are on the payroll of corporations Schumer is meant to be regulating.
Of course, even when the invoice make it previous the Senate, their companion invoice would even have to make it previous the House — which some insiders say may current an excellent greater hurdle.
While Schumer has mentioned he helps the Klobuchar-Grassley invoice, House Majority Leader Nancy Pelosi (D-Calif.) has not accomplished so, as a substitute saying extra typically that she helps tech regulation.
Pelosi has come below scrutiny for cashing in on these tech corporations, as her husband Paul has made thousands and thousands actively buying and selling shares of corporations like Google.