SIIA: Revised Antitrust Bill Fails to Correct Fatal Flaws, Will Hurt U.S. Economy

This statement can be attributed to Jeff Joseph, President, the Software & Information Industry Association (SIIA):

The revised American Innovation and Choice Online Act (S2992) is still fatally flawed. The bill, as written, threatens national security, weakens cybersecurity, erodes privacy protections, and diminishes consumer welfare. The bill goes against long-standing American principles regarding antitrust, creating a new standard based on corporate size instead of perceived harm, which will chill investment and innovation and have downstream impacts on our nation’s tech ecosystem and economy at a time of increased global competition for leadership in technology.

Without so much as a substantive hearing, the concerns expressed by many have been ignored in the rush to push this flawed legislation with little regard for regular legislative processes at a time when our nation faces far more pressing concerns.

A recent survey shows that only 3% of respondents think that antitrust regulation of tech companies is an important issue and that 57% of Americans would be less likely to vote for a Member of Congress who hinders access to tech services.

Striking the right balance between the many interests at stake here requires careful deliberation, not a rushed process. The stakes are no less than continued U.S. leadership in innovation. We cannot afford to get this wrong.

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