Cotton, Klobuchar Plan to Rein in Big Tech’s ‘Monopolistic’ Practices with New Bipartisan Bill

Amy Klobuchar and Tom Cotton

Republican Arkansas Sen. Tom Cotton and Democratic Minnesota Sen. Amy Klobuchar unveiled a bipartisan bill Friday intended to restrict how major tech companies acquire and merge with smaller firms.

The bill, titled the Platform Competition and Opportunity Act, is a companion to antitrust legislation advanced out of the House Judiciary Committee in June. If enacted, the law would shift the burden in antitrust cases to the acquiring party for mergers greater than $50 million, meaning that the acquiring firm would have to prove that its acquisition of another company was not anti-competitive.

The bill explicitly targets Big Tech companies, and it applies to firms with market capitalizations over $600 billion, at least 50,000,000 U.S.-based monthly active users or 100,000 monthly active business users. This would include Amazon, Google, Facebook and Apple.

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