Senate Bill S.2992 is a bipartisan bill, supported by some Republicans and Democrats, and many third-party sellers, mostly small businesses, who use big tech platforms, like Amazon. “S” means the bill is generated in the Senate. S.2992 targets big tech companies for potential antitrust and consumer choice violations. If passed, this bill would cover Apple, Alphabet (parent company of Google), Amazon and Meta (formerly Facebook). The project is limited to online platforms with 1) at least 50 million monthly active uses or 100,000 business users; 2) annual market capitalization of net sales in the United States exceeding $550 billion; and 3) serve as an “essential business partner” for its business users. Millions of dollars have been spent by big tech with misinformation telling you to contact your reps to kill this bill. Make sure to check out what S2992 DOES NOT do that the ads erroneously say it does. The bill would NOT block sales of Basics (Amazon brand) products. This DOES NOT preclude or prohibit Amazon from offering free shipping on products or prohibiting free shipping. Instead, the bill prevents Amazon from requiring third-party sellers on its platform to use logistics and fulfillment services, but sellers have the option to use these services if they choose. wish.
The bill seeks to prohibit dominant platforms from “abusing their gatekeeper power” by prioritizing their own products over competitors using their platforms. Amazon has about 100 private labels that cover a variety of products under their core brands. Third-party sellers account for more than half of Amazon’s retail volume. Third-party sellers have expressed frustration with dealing with Amazon and supporting S2992. Third-party sellers have complained about the costs they pay to stay in good standing, the amount Amazon charges them for ads, and Amazon’s inability to rid the market of scams. As