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App Store could be hit by the Platform Antitrust Act proposed by the US House of Representatives [U]

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New details have been revealed about a new law that may be proposed to the US House of Representatives today to counter Apple, Amazon, Google, Facebook and more. Called the Ending Platform Monopolies Act, this proposal contains several legislation that may regulate Apple’s App Store and more. This progress came after Congress spent the last year and a half investigating concerns about Big Tech’s antitrust law.

PT 11:50 AM Update: A new antitrust law has been officially introduced.

Representatives of the US House of Representatives today announced a platform antitrust law, with Congressman David Siciline (D-RI) issuing a statement (via The Verge):

Today, unregulated technology monopolies dominate our economy too much. They are in a unique position to choose winners and losers, destroy small businesses, raise consumer prices and drive people into unemployment, Congressman David Sicilin (D-RI) said in a statement on Friday. Our agenda leveles the competition and ensures that the wealthiest and most powerful tech monopolies play with the same rules as our other people.

The Wall Street Journal reports that Congressmen are ready to submit bipartisan legislation.

For Apple in particular, one of the platform antitrust legislation is aimed at “the ability of leading tech companies to leverage online platforms to prioritize their products over their competitors.”

This was the subject of last year’s investigation into Apple’s antitrust law by competitors such as Spotify, Epic Games, Tile, and AliveCor, as well as US lawmakers.

As seen in the draft WSJ proposal, the new legislation includes (but subject to change):

If ownership of the Covered Platform or control of its Business Line creates an irreconcilable conflict of interest, it is illegal for the Target Platform Operator to own or control a business line other than the Covered Platform.

If it is finally passed by the House of Representatives and the Senate, it could signal the arrival of regulations on Apple’s App Store, Find My apps, and more.

“Each bill has been signed by both Republicans and Democrats and will join more bills after the announcement,” said one WSJ source. The bill passed the House of Representatives. It’s likely, but you need to make sure that the Senate gets enough bipartisan support for the bill.

FTC: I’m using an automatic affiliate link to earn money. More.

For more Apple news, check out YouTube’s 9to5Mac.

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