A House panel proposed a series of far-reaching antitrust reforms to curb the power of U.S. technology giants including Amazon.com Inc. and Alphabet Inc.’s Google, the result of a 16-month antitrust investigation that found the companies are abusing their dominance.
The recommendations, contained in a 449-page report from the House antitrust subcommittee, represent the most dramatic proposal to overhaul competition law in decades, and could lead to the breakup of tech companies if approved by Congress.
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The findings target four of the biggest U.S. tech companies — Amazon, Google, Facebook Inc., and Apple Inc. — describing them as gatekeepers of the digital economy that can use their control over markets to pick winners and losers. The companies have abused their power to snuff out competitive threats, leading to less innovation, fewer choices for consumers and a hobbled democracy, the report said.