Stock Groups

Google U.S. lobbying jumps 27% as lawmakers aim to rein in Big Tech -Breaking

by Mike Robinson

[ad_1]

© Reuters. FILEPHOTO: Google LLC’s logo can be seen at the office located in Manhattan, New York City. New York City. U.S.A. November 17th, 2021. REUTERS/Andrew Kelly

WASHINGTON, (Reuters) – Alphabet Inc (NASDAQ:) reported that Google spent $9.6 Million for U.S. lobbying in 2021, 27% more than 2020. This is according to Senate lobbying disclosure data.

This is far less than what it spent on lobbying in 2018, which was more than 20 million. However, this figure exceeds the $7.53million that Google spent on 2020 lobbying. Google spent $2.2million on lobbying during the fourth quarter in 2021.

Google saw its lobbying spending drop in 2020 after it restructured their government relations departments.

Congress is under intense pressure to investigate allegations that the biggest tech companies (Amazon.com Inc, Meta Platforms Inc’s Facebook and Apple Inc) abused their enormous market power.

There have been many bills introduced to rein in the platforms, but none of them have ever become law. On Thursday, the Senate Judiciary Committee approved one bill that would prohibit platforms from giving preference for their businesses.

Disclaimer: Fusion MediaWe remind you that this site does not contain accurate or real-time data. CFDs include stocks, indexes and futures. Prices are provided not by the exchanges. Market makers provide them. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media is not responsible for trading losses that may be incurred as a consequence of the use of this data.

Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.

[ad_2]