The announcement of a congressional investigation comes just after reports that the Justice Department and Federal Trade Commission are planning probes of the tech giants.
The House Judiciary Committee is opening an anti-trust investigation into tech giants amid concerns that their unmatched market power is suppressing competition in digital markets.
If lawmakers find current regulations to be inadequate, the investigation could lead the first remodel of U.S. antitrust laws in decades.The House Judiciary Committee is opening an antitrust investigation into tech giants amid concerns that their unmatched market power is suppressing competition in digital markets.
The committee plans to asses the effectiveness of current antitrust laws in regulating tech companies. If lawmakers find current regulations to be inadequate, the investigation could lead the first remodel of U.S. antitrust laws in decades. "There is growing evidence that a handful of gatekeepers have come to capture control over key arteries of online commerce, content, and communications," Committee Chairman Jerrold Nadler, D-NY, said in a statement Monday announcing the probe.
Representatives from both parties have expressed concerns over the rapid growth of big tech and the government's ability to regulate these companies.
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