Congress’ push to regulate Big Tech is fizzling out – Axios

Hopes for a congressional vote this summer on a major tech antitrust bill have all but fizzled out as the August recess quickly approaches.

The big picture: It's more likely than ever that this Congress will push efforts to pass Big Tech competition rules into the fall, where they will face slim chances with lawmakers distracted by midterm elections.

Catch up quick: The American Innovation and Competition Online Act, co-sponsored by Sens. Amy Klobuchar (D-Minn.) and Chuck Grassley (R-Iowa), would ban Big Tech companies from favoring their own services in an anticompetitive way.

Driving the news: The American Innovation and Competition Online Act has bipartisan support. But floor time is dwindling as a list of Democratic priorities, including budget reconciliation and protecting same-sex marriage, take precedence.

What they're saying: Supporters are grappling with the idea that their bill may not see floor time until after the August recess, per conversations with sources from advocacy groups and companies pushing for a vote.

Yes, but: Advocates tell Axios that if the bill hits the floor at any point before a new Congress is sworn in, it will pass with at least 60 yes votes.

Flashback: The House began this current antitrust legislative push in 2020, with a sweeping report charging the biggest U.S. tech companies, including Meta, Amazon, Apple and Google, with putting their own products and services ahead of competitors'.

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Congress' push to regulate Big Tech is fizzling out - Axios