Sen. Michael Bennet, D-Colo., has introduced a bill that would establish a federal organization tasked with overseeing digital platforms to foster competition and protect consumers.
The proposed Digital Platform Commission Act would create a five-member commission authorized to conduct hearings, perform research and investigations and engage in public rulemaking to provide comprehensive regulation of digital platforms, Bennet’s office said Thursday.
The bill would authorize the proposed Federal Digital Platform Commission to designate “systemically important digital platforms” and establish a Code Council of representatives and technical experts from industry and civil society to provide the commission with behavioral codes, technical standards and other policies for consideration.
The legislation would also direct the commission to coordinate with consumer protection and antitrust authorities to ensure the effective use of federal resources.
“It’s past time for a thoughtful and comprehensive approach to regulating digital platforms that have amassed extraordinary power over our economy, society, and democracy,” said Bennet. “We should follow the long precedent in American history of empowering an expert body to protect the public interest through common-sense rules and oversight for complex and powerful sectors of the economy.”