Elizabeth Warren and Lindsey Graham want a new agency to regulate tech | CNN Business

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Two US senators are calling for the creation of a new federal agency to regulate tech companies

Under the proposal released Thursday by Sen. Elizabeth Warren, a Massachusetts Democrat, and Sen. Lindsey Graham, a South Carolina Republican, Congress would establish a new regulatory body with the power to sue platforms — or even force them to stop operating — in response to various potential harms to customers, rivals and the general public, including anticompetitive practices, violations of consumer privacy and the spread of harmful online content.

For the largest companies under its purview — defined by a mixture of user numbers, revenue figures, market capitalization and other metrics — the commission would issue operating licenses that could be revoked in the case of repeat offenses, according to a copy of the bill text reviewed by CNN. “Enough is enough. It’s time to rein in Big Tech,” Graham and Warren wrote in an op-ed in the New York Times Thursday. “And we can’t do it with a law that only nibbles around the edges of the problem.

 

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