Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Nashville news?

Get a daily digest of the most important stories affecting your hometown with the Axios Nashville newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Columbus news?

Get a daily digest of the most important stories affecting your hometown with the Axios Columbus newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Dallas news?

Get a daily digest of the most important stories affecting your hometown with the Axios Dallas newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios NW Arkansas

Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!
Expand chart
Data: The Center for Responsive Politics via Sinclair Broadcast Group; Chart: Andrew Witherspoon/Axios

The debate surrounding antitrust laws and the monopoly power of major tech companies continues to heat up in Congress, even though members of both parties have accepted political donations from, and own stock in, a variety of Big Tech firms.

Why it matters, per Axios' Scott Rosenberg: For years, the biggest tech companies have been donating through PACs to lawmakers of both parties and building extensive lobbying operations in Washington in preparation for this moment. As legislators weigh new regulations, the firms will learn what kind of influence, if any, their investments have earned.

Driving the news: Regulators on both sides are now "beginning to probe whether the biggest tech companies' handling of consumer data represents an unfair form of competition," Axios' Margret Harding McGill writes.

Worth noting: The numbers from OpenSecrets don't represent money directly donated by the companies themselves. Rather, they're the sum totals from the company's PACs, owners, individual employees and their immediate families. The totals may include subsidiaries and affiliates.

By the numbers: During the 2018 midterm elections, donations from Apple, Google-owner Alphabet Inc., Facebook, Amazon and Microsoft totaled more than $500,000 to candidates on the House Judiciary Committee — with Alphabet Inc. donating the most.

Key House Judiciary members who own tech stock:

  • Rep. F. James Sensenbrenner (R-Wisc.), a ranking member of the antitrust subcommittee, owns $400,000 combined in AT&T, CenturyLink, Comcast, Frontier Communications, Verizon and Vodafone stock, Morning Consult reports.
  • Rep. Ken Buck (R-Colo.) owns less than $1,000 worth of stock in each of Cisco, IBM, Intel, HP Inc. and Qualcomm.
  • Rep. Steve Chabot (R-Ohio) owns between $15,000 and $50,000 in stock for both Facebook and Netflix.
  • Rep. Steve Cohen (D-Tenn.) owns between $15,000 and $50,000 in AT&T stock, between $1,000 and $15,000 in Charter Communications stock, $50,000 to $100,000 in IBM stock, and in the $100,ooo-to-$250,000 range in Microsoft stock.
  • Rep. Zoe Lofgren (D-Calif.) owns between $1,000 to $15,000 worth of stock in Alphabet, Apple, Comcast, Facebook, Intel, Microsoft, Time Warner and Verizon.
  • Rep. Lucy McBath (D-Ga.) owns less than $1,000 in AT&T stock.
  • Rep. Martha Roby (R-Ala.) owns between $1,000 and $15,000 worth of Alibaba stock and between $15,ooo and $50,000 worth of both Microsoft and Intel.

House Speaker Nancy Pelosi (D-Calif.) doesn't sit on the Judiciary Committee, but she and her husband own at least $8.4 million worth of tech stock, according to Morning Consult.

The bottom line: Donations from tech companies and employees were substantially higher in 2018, a midterm election year, than in 2016, a presidential election year. Companies are likely to donate more during the 2020 elections.

  • For example, Apple donated $144,994 to House candidates in 2016, and donated $290,589 to House candidates in 2018.

What's next: The House Judiciary Committee has requested documents from Alphabet, Amazon, Apple and Facebook as part of an antitrust investigation. The committee says it's received some but not all of the requested documents.

Go deeper:

Go deeper

37 mins ago - Politics & Policy

Manchin's massive means test

Illustration: Aïda Amer/Axios

Sen. Joe Manchin (D-W.Va.) is offering progressives a trade: He'll vote for their cherished social programs if they accept strict income caps for the recipients, people familiar with the matter tell Axios.

Why it matters: Manchin’s plan to use so-called means-testing for everything from paid family medical leave to elder and disabled care would drastically shrink the size and scope of the programs. It also would bring a key moderate vote to the progressive cause.

The China whisperer

Nick Burns. Photo: Chen Mengtong/China News Service via Getty Images

President Biden's nominee for ambassador to China will face aggressive questioning Wednesday about the most important, and potentially perilous, bilateral relationship in the world.

Why it matters: While Nick Burns is an experienced diplomat with support on both sides of the aisle, lawmakers want to use his confirmation hearing to force the administration into some tough positions on China.

Jan. 6 committee recommends contempt charges against Bannon

Steve Bannon. Photo: Stephanie Keith/Getty Images

The House select committee investigating the deadly Jan. 6 Capitol riots unanimously approved a resolution Tuesday night recommending that former Trump aide Steve Bannon be held in contempt of Congress for refusing to comply with a subpoena.

Why it matters: The resolution sets up a House vote to refer Bannon for potential criminal prosecution, signaling that the committee will not tolerate attempts by former President Trump and his associates to stymie the investigation.