Antitrust should not be used to undermine America’s competitive edge and economic advantage. Unfortunately, the latest proposal from America’s lawmakers will mistakenly promote an anti-American regulatory model that will harm decades of American growth and innovation.
Today, NetChoice voiced its opposition to the Platform Competition and Opportunity Act of 2021, introduced by Sen. Klobuchar (D-MN) and Sen. Cotton (R-MO). A companion bill to Chairman Cicilline’s version in House Judiciary, this bill will place America’s economy at a disadvantage.
“Sen. Klobuchar’s proposals are almost as radical as Chairman Cicilline’s, despite her claim that she’s taking a more moderate approach,” said Carl Szabo, Vice President and General Counsel at NetChoice. “By essentially blocking mergers and acquisitions, the bill stifles American competition and innovation, drives investors out of the American tech space, and forces our economy to watch as any advances fall to global competitors.”
“While many in Congress look to boost American tech’s global competitiveness, some lawmakers are introducing bills that will knee-cap America’s leadership in technology and place our economy at a significant disadvantage,” continued Szabo. “As Republicans look to take back Congress from the hands of the Democrats, they should not support legislation that provides the Biden administration an incredible amount of unchecked power to run the US economy how they see fit.”