'We are concerned that they could potentially have significant negative effects on small and medium-sized businesses like yours that sell in our store,' Amazon wrote in its email.
from using their monopoly power to"distort or destroy" competition in marketplaces that rely on their platforms. Reps. Pramila Jayapal and Lance Gooden introduced this bill.Presented by Hakeem Jeffries and Ken Buck , this law prohibits Big Tech from engaging in mergers that would enhance or reinforce monopoly power and eliminate competitors or potential competitors.This law, introduced by Reps.
CNBC reports that funds Amazon earned off these third-party sellers serves as a major growth area for the company. It writes that while commissions and shipping fees increased 38 percent year over year in the last quarter, growth in Amazon's own store rose 16 percent. Despite Amazon's claims, House Judiciary Committee Chairman Jerrold Nadler expressed pride around the new laws and said he sees them as a way of boosting online competition.
"I am extremely proud of the bipartisan legislation passed by the Committee, which levels the playing field for innovators and entrepreneurs, provides more opportunities for small businesses, and brings increased choice to American consumers," he said."By reining in anti-competitive abuses, our legislation ensures there is a space for opportunity and innovation to thrive online.
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