A new bill proposed by U.S Democratic Senators, Amy Klobuchar and Richard Blumenthal called “Monopololization Deterrence Act” seeks to increase the punishment of companies which violates the monopoly laws.
Apple and Facebook are at the top of the list of companies and they may get punish for it which can make then lose 15% of their revenue because according to reports, the U.S Federal Trade Commission (FTC) and the Department of Justice (DOJ) are to be equipped to pursue new civil penalties.
Facebook has been recently fined $5 billion for violating user privacy. It doesn’t affect the company because the company revenue in 2018 exceeds $55.8 billion. Although, other tech companies, Amazon and Google are being investigated by FTC and DOJ.
Some of the companies representatives were before the House Judiciary to defend their practices.
According to reports, Apple prevents developers from selling iPhone and iPad apps anywhere else. Apple had to extract up to 30% commission of each sale on Appstore. After several lawsuits filed against Apple, the Supreme court ruled in favour of the developers.