U.S. lower house members in action: Restrict the power of technology companies | Finance

Several members of the United States House of Representatives have introduced comprehensive plans that make it more difficult for companies to make acquisitions, but prohibit companies from owning competing companies.

Hopeful reforms were introduced on Friday by a group of politicians in an effort to reform the old rules over the next few years. Proposals must be approved by a special committee before being sent to the full House of Representatives. They must pass the Senate before President Joe Biden can sign it. Democrats and Republicans differ on some of the solutions, but they often agreed on the damage to the competition and the need for reform.

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The two new bills introduced on Friday will be particularly difficult for Amazon and Apple to deal with. Both companies manage markets that sell their own products or applications. They compete with other vendors or developers, and they both depend.

The move comes in the wake of a lengthy investigation into four companies, which ended last year with a special panel of the House of Representatives. The company concluded that Amazon, Apple, Facebook and Google have monopolies and that hopeless laws need to be amended to better address the unique challenges of competition in the digital marketplace.