Sen. Amy Klobuchar, the incoming head of the Senate antitrust subcommittee, on Thursday will reportedly introduce legislation that aims to overhaul US antitrust law and could put more pressure on tech giants and other perceived monopolies.
The reform bill would raise the bar on acquisitions by requiring companies to prove that a merger doesn’t “create an appreciable risk of materially lessening competition,” according to reports from Axios and The Wall Street Journal. Current antitrust law requires the government to show acquisitions will demonstrably reduce competition, which Axios notes is difficult to prove with tech mergers.
Google, Facebook and other tech giants have come under increased scrutiny over their size and scale. Legislators and regulators are concerned about how their power might ultimately harm consumers, especially by choking off competition from smaller players in Silicon Valley. Google is currently facing. In December, were filed against Facebook seeking to break up Instagram and WhatsApp from the social networking giant.
The Minnesota Democrat is reportedly introducing the legislation alongside Sens. Cory Booker (D-NJ), Richard Blumenthal (D-CT) and Ed Markey (D-MA) and is coordinating with antitrust counterparts in the House.
Klobuchar’s office didn’t immediately respond to a request for comment.