(RepublicanInformer.com)- Speaking to Axios, Senator Hawley unveiled the “Trust-Busting for the Twenty-First Century Act,” a bill that would stop merges and acquisitions for companies that have a market cap greater than $100 billion. It follows years of Big Tech and media companies buying up smaller competitors and companies to stop the growth of new platforms and businesses that may pose a threat to the bigger companies’ dominance.
“This country and this government shouldn’t be run by a few mega-corporations,” Hawley said. “The Republican Party has got to become the party of trust-busting once again. You know, that’s part of our history.”
It’s exactly the kind of policy that the Democrats would once have advocated, but not now that Big Tech and Big Media favor their preferred candidates.
The proposed legislation would also lower the threshold for prosecution under the current laws and replace the “consumer harm” standard with a system that would prioritize the protection of competition.
Hawley is one of the staunchest critics of Big Tech in Congress. His new legislation would put pressure on Big Tech to stop buying out smaller competing websites – like Facebook purchasing Instagram, for instance – by requiring any company that loses a federal antitrust lawsuit to “forfeit all their profits resulting from monopolistic conduct.”
That would put the fear of God into big companies like Google. Would the global search giant engage in anti-trust practices knowing that the entire company could go under if they’re caught?
The term “Trust-busting” comes from former Republican President Teddy Roosevelt, with the Sherman Antitrust Act – which was passed by Congress in 1890 – being used by the president in 1902 to dismantle the Northern Securities Corporation, a holding company that controlled the rail industry across the northern United States.
But Hawley is taking on Big Tech, and everyone knows it.
The proposed legislation will be sure to win support from Republicans sick and tired of Big Tech censoring conservatives and monopolizing the Internet, but with Democrats controlling both the House and Senate, the legislation is unlikely to go anywhere.
Democrats overwhelmingly benefit from Big Tech’s anti-conservative bias, and for as long as Google controls the Internet, there’s no reason why the Democrats would ever want to take action to stop online censorship and the monopolization of industries by left-leaning and radical-left companies.