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In this screenshot taken from a congress.gov webcast, House Impeachment manager Rep. David Cicilline (D-RI) speaks on the fifth day of former President Donald Trump's second impeachment trial at the U.S. Capitol on February 13 in Washington, D.C. Photo: Handout/Getty Images

Drafts of bills about tech competition and antitrust, likely to be introduced by leaders of the House Judiciary antitrust subcommittee soon, are circulating among Washington policy circles.

Why it matters: When the bills are formally introduced, it will be the next step in the subcommittee's antitrust investigation, which last year resulted in a sweeping report (along with a separate report from ranking antitrust member Rep. Ken Buck of Colorado) recommending changes to antitrust law to better keep up with the digital age.

Details: Five draft bills obtained by Axios address interoperability, self-preferencing a company's own services and features, an update to merger fees and more money for the Federal Trade Commission and Department of Justice, limiting Big Tech acquisitions and separating platforms from sellers.

  • The bills seen by Axios are discussion drafts and may be introduced by the committee when they are finalized, but the timing is still unclear.
  • The draft text generally reflects ideas committee leaders have discussed in hearings and include areas where Democrats and Republicans on the committee have said they can find agreement.

Yes, but: House Judiciary Committee ranking Republican Jim Jordan of Ohio has generally been wary of aggressive antitrust action, despite his anti- Big Tech stance.

Flashback: Rep. David Cicilline (D-RI), leader of the antitrust subcommittee, previously told Axios he planned on introducing a series of bills, with the intention of making them harder for the tech industry to lobby against and ultimately sink.

What to watch: Industry supporters are likely to see the bills as an overreach that will hurt businesses and consumers, while proponents of breaking up Big Tech and reforming antitrust law will welcome them.

Go deeper

Scoop: Biden to tap privacy hawk for FTC post

Photo: Jeffrey Greenberg/Universal Images Group via Getty Images

President Biden will nominate Georgetown University law professor Alvaro Bedoya to be a Democratic commissioner at the Federal Trade Commission, people familiar with the matter told Axios.

Why it matters: Bedoya, founding director of the Center on Privacy & Technology at Georgetown, will bring a bevy of experience on privacy issues to the FTC's work on tech.

Dan Primack, author of Pro Rata
1 hour ago - Economy & Business

IPO market holds firm amid stock market tumult

Illustration: Aïda Amer/Axios

The IPO market is doing its best Alfred E. Neuman impression so far this week, refusing to entertain everyone else's worries.

The big picture: Both the Dow and S&P 500 fell nearly 2% yesterday, as investors tried to measure the fallout of Chinese construction giant Evergrande defaulting on its $300 billion in liabilities.

3 hours ago - World

Sudanese government says it put down coup attempt

Prime Minister Abdullah Hamdok (L) and Sovereign Council Chief Gen. Abdel Fattah al-Burhan. Photo: Ashraf Shazly/AFP via Getty

The Sudanese government announced on Tuesday morning that its military and security services had foiled an attempted coup from within the country’s armed forces.

Why it matters: The apparent coup attempt comes with Sudan’s transitional government — in which power is shared between civilians and generals — facing crises on several fronts two years after dictator Omar al-Bashir was toppled in a popular uprising.

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