Big Tech's $95 Million Spending Spree Leaves Antitrust Bill On Brink of Defeat

An anonymous reader quotes a report from Bloomberg: A high-profile push by Congress to rein in the nation's biggest internet companies is at risk of failing with time running out to pass major legislation ahead of midterm elections. Alphabet's Google, Apple, Amazon.com and Meta and their trade groups have poured almost $95 million into lobbying since 2021 as they seek to derail the American Innovation and Choice Online Act, which has advanced further than any US legislative effort to address the market power of some of the world's richest companies. After a nearly two-year battle, the bill is now at a critical juncture as the Senate returns this week for a final stretch before the November midterms. Backers of the measure swear they have the necessary votes, yet it's unclear if they do, and the Senate will be busy with other must-pass spending legislation.

Although clipping the wings of tech giants through antitrust reform had support from both Republicans and Democrats during this Congress, a likely GOP majority in the House next year is expected to focus on allegations that internet platforms squelch conservative viewpoints. That's why tech lobbyists have been trying to run out the clock. Leading Republicans like California's Kevin McCarthy, who is on track to become Speaker under a GOP majority, have publicly opposed the antitrust push. The legislation's sponsors can see the window narrowing. Antitrust advocates were expecting a vote before Congress adjourned for four weeks in August. But Schumer told donors in July that it didn't have enough votes to pass.

The bill has 13 co-sponsors in the Senate, where it would need 60 votes to pass and be sent to the House. Supporters like Yelp's head of public policy Luther Lowe, a longtime Google critic, argue that enough undecided lawmakers would vote for the measure if it came to the floor. A Schumer spokesperson said he's working with the bill's sponsors to find the necessary votes and he still plans to bring it to the floor. The bill was approved by both the House and Senate Judiciary Committees on strong bipartisan votes. Several amendments have addressed concerns about privacy and security issues. What hasn't killed the bill 'has made it stronger,' said Yelp's Lowe. The measure seeks to restrict the companies from favoring their own products, so that competitors who depend on these platforms to reach consumers wouldn't be at a disadvantage. That could impact the design of Google Maps, the display of Apple Music on an iPhone or the prominence of Amazon Basics on the company's e-commerce site. 'I don't see it going to the floor,' said Michael Petricone, senior vice president of government affairs at the Consumer Technology Association, a trade group that counts Amazon, Google and Facebook among its members. 'With an election coming up, I expect senators to come back and focus on issues that are popular with voters. Tech regulation is not one of those issues.'

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