Two U.S. senators, Elizabeth Warren and Lindsey Graham, have proposed a new bill that would create a new government regulator to oversee the tech industry. The bill, called the Digital Consumer Protection Commission Act, would give the commission the power to investigate and take action against tech companies that engage in anti-competitive behavior.
The bill is the latest attempt by Congress to rein in the power of Big Tech companies. In recent years, there has been growing concern that these companies have become too big and powerful, and that they are using their market dominance to stifle competition and innovation.
The proposed bill would give the new regulator a wide range of powers, including the ability to investigate anti-competitive behavior by tech companies, prohibit tech companies from self-preferencing their own products and services, block mergers and acquisitions by tech companies, and force tech companies to sell off businesses or assets
The bill would also create new privacy protections for consumers, and would limit foreign ownership and access to data by foreign adversaries.
The proposal has been met with mixed reactions from the tech industry. Some companies have expressed support for the bill, while others have said that it is too burdensome and would stifle innovation.
The sources for this piece include an article in Reuters.
