House Democrats unveiled their nearly 450-page antitrust report Tuesday finding Amazon, Apple, Facebook and Google each hold monopoly power and, in some cases, should have parts of their businesses effectively broken up.
Now, the real work begins.
Lawmakers are charged with the arduous task of rewriting the U.S. antitrust laws — something that hasn’t been done in earnest in decades. The country’s two major antitrust statutes, the Sherman Act (monopoly law) and the Clayton Act (merger law) were passed in 1890 and 1914, respectively. The Federal Trade Commission Act, which established the FTC and gave it powers to regulate competition, was also passed in 1914.
