POLITICO: Tech industry praises progress on global tax talks

June 7, 2021 Media

— One step at a time: Finance ministers from the G-7’s member countries made progress over the weekend toward securing a global tax overhaul that would hit tech giants’ bottom lines. But Republicans are concerned.

— Out of our hands: In its response to its oversight board’s policy recommendations, Facebook said an “objective review” of the events surrounding the Jan. 6 Capitol riot was best left to lawmakers and independent researchers.

— #EyesOnAmazon: Advocacy groups will pressure Amazon this week to stop selling and developing facial recognition technology and end its partnerships with law enforcement.

NEW YORK ANTITRUST BILL ON TAP — Legislation to strengthen New York’s antitrust law is set for consideration by the state Senate with a vote possible as soon as today. The bill, S933A, sponsored by Democratic Sen. Michael Gianaris, seeks to update what’s known as the Donnelly Act, enacted in 1899, to better address conduct by technology giants. New York Attorney General Tish James and D.C.-based anti-monopoly groups like the Open Markets Institute and the American Economic Liberties Project back the update.

— The biggest change: The bill would create an “abuse of dominance” claim similar to what exists in Europe. That would allow prosecutors to challenge conduct by companies with large market shares that still might not technically qualify as monopolies.

— A race against the clock: The state legislature’s session ends Thursday, so there’s limited time for the bill to get a vote in the state Assembly.