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US Senate Democrats Seek 'Serious' Fines for Big Tech Antitrust Violation



Bryan Pietsch for Reuters:

U.S. Senators Amy Klobuchar and Richard Blumenthal on Friday introduced legislation to allow stricter penalties for companies that violate antitrust laws, following a Justice Department probe into alleged competitive behavior by big tech.

The "Democratic Senators Monopolization Deterrence Act" would allow the Department of Justice and the Federal Trade Commission to seek civil penalties for monopoly violations under U.S. antitrust law, Klobuchar's office said in a statement.

US antitrust enforcers are investigating tech giants Facebook Inc, Alphabet Inc's Google, Amazon.com and Apple Inc to investigate allegations of competitive behavior.

Klobuchar, seeking the Democratic nomination for president in 2020, said in the statement the legislation would allow "serious economic consequences" to combat the United States' "major monopoly problem." Senator Elizabeth Warren of Massachusetts, another Democratic presidential candidate, has set up billboards in technically heavy Silicon Valley and called "BREAK UP BIG TECH."

MacDailyNews Take: Again, it will be interesting to see the distribution of political candidate contributions from employees of major technology companies during 2020.

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