Business Groups Critical Of Antitrust Legislation Against Large Online Platforms
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The Center Square [By Kevin Bessler] –
New federal legislation that would strengthen antitrust enforcement of Big Tech is being criticized by business groups.
The American Innovation and Choice Online Act would prohibit tech companies from giving preference to their own offerings over competing products.
President Joe Biden urged for its passage during his most recent State of the Union address in February.
“Pass the bipartisan legislation to strengthen antitrust enforcement and prevent big online platforms from giving their own products an unfair advantage,” Biden said.
Rae said if Amazon can no longer integrate its fulfillment services with Prime, small business sellers lose the advantage of easily qualifying for Prime and the benefits that come along with it.
A 2022 Dartmouth College study found that the AICOA would be a financial catastrophe for small businesses, which would lose $500 billion, or $100,000 per small business, in the first five years of AICOA becoming law.
“I’m incredibly disappointed that some in Congress are determined to continue their crusade against leading technology companies no matter how it hurts small businesses like mine,” said Rae.