Congressman Gooden Introduces the Ending Platform Monopolies Act

Press Release

Congressman Lance Gooden (R-TX), joined by U.S. Reps. Ken Buck (R-CO) and Pramila Jayapal (D-WA), introduced legislation to restore fairness for American innovators in the digital marketplace by checking Big Tech companies' monopolistic behavior. The Ending Platform Monopolies Act would promote competition and empower entrepreneurs by eliminating conflicts of interest that arise from dominant online platforms' ownership or control of other platforms and businesses.

"Big Tech companies are stifling American innovation with their monopolistic behavior. By acquiring their competition and eliminating alternatives in the marketplace, they are denying fair access to the free market for small businesses across the country," said Congressman Gooden.

The Ending Platform Monopolies Act will:

Ban all mergers and acquisitions by Big Tech companies with market capitalization that exceeds $600 billion unless they can prove the proposed merger or acquisition is not related to acquiring a competitor.
Empower the Department of Justice and Federal Trade Commission to pursue anti-competitive behavior and enforce antitrust restrictions.
Bar corporate board members from serving on the boards of other covered platforms if a conflict of interest is present.
Big Tech companies like Facebook, Amazon, Apple, and Google have spent billions in recent years acquiring their competition, effectively eliminating alternatives to their products and services. The Ending Platform Monopolies Act would level the playing field for all businesses to compete in the digital marketplace.

Source