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Home » Lawmakers Unveil New Bills to Curb Big Tech’s Power and Profit

Lawmakers Unveil New Bills to Curb Big Tech’s Power and Profit

in International
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Rep. Jake Auchincloss and Bipartisan Co-Sponsors Introduce Three Bills to Hold Social Media Companies Accountable

In today’s digital age, social media has become an integral part of our daily lives. It has revolutionized the way we connect, communicate, and consume information. However, with this immense power comes great responsibility. Social media companies have been under scrutiny for their lack of accountability and the negative impact their platforms can have on society, especially on children. In a move to address these concerns, Rep. Jake Auchincloss, along with bipartisan co-sponsors, has introduced three bills aimed at curbing social media companies’ legal immunity, strengthening safeguards for kids, and taxing their ad revenues.

The first bill, the ‘Platform Accountability and Consumer Transparency (PACT) Act,’ seeks to amend Section 230 of the Communications Decency Act, which provides social media companies with legal immunity for content posted by their users. The PACT Act aims to hold these companies accountable for the content on their platforms by requiring them to disclose their content moderation policies and practices. It also gives users the right to appeal content removal decisions and creates a process for the Federal Trade Commission to investigate and penalize companies that fail to comply.

The second bill, the ‘Kids Internet Design and Safety (KIDS) Act,’ focuses on protecting children’s privacy and safety online. It requires social media companies to obtain parental consent before collecting personal information from children under the age of 13. It also prohibits targeted advertising to children and requires companies to implement age-appropriate design standards to protect children from harmful content.

The third bill, the ‘Digital Advertising Tax (DAT) Act,’ aims to address the issue of social media companies profiting from targeted advertising. The bill proposes a 2% tax on digital advertising revenues, which would generate an estimated $2 billion in revenue annually. This revenue would be used to fund programs that promote digital literacy and combat online harassment and misinformation.

Rep. Auchincloss, a member of the House Committee on Financial Services, believes that these bills are necessary to hold social media companies accountable and protect the well-being of children. He stated, “Social media companies have a responsibility to ensure their platforms are not being used to spread harmful content or exploit children for profit. These bills will provide much-needed transparency and safeguards to protect our communities, especially our children, from the negative effects of social media.”

The introduction of these bills has received widespread support from both Democrats and Republicans, highlighting the bipartisan effort to address the issue. Rep. Jan Schakowsky, a co-sponsor of the PACT Act, stated, “We must hold social media companies accountable for the content on their platforms. The PACT Act is a critical step towards ensuring transparency and protecting consumers from harmful content.”

Similarly, Rep. Cathy McMorris Rodgers, a co-sponsor of the KIDS Act, emphasized the need to protect children’s privacy and safety online. She stated, “As a mom, I understand the importance of protecting our children from harmful content and online predators. The KIDS Act will provide parents with the tools they need to keep their children safe online.”

The introduction of these bills comes at a time when social media companies are facing increased scrutiny for their role in spreading misinformation, facilitating cyberbullying, and exploiting user data for profit. The COVID-19 pandemic has also highlighted the negative impact social media can have on mental health, especially for young people. These bills aim to address these issues and create a safer and more transparent online environment for all users.

In conclusion, Rep. Jake Auchincloss and his bipartisan co-sponsors have taken a significant step towards holding social media companies accountable and protecting the well-being of children. These bills, if passed, will bring much-needed transparency and safeguards to the digital world and ensure that social media companies are responsible for the content on their platforms. It is time for these companies to be held accountable for their actions, and these bills are a crucial step in the right direction. Let us hope that they are passed swiftly and make a positive impact on our society.

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