Win For Apple, Amazon, Google? Jim Jordan's Potential House Speakership Bid Could Pause Tech Antitrust Legislation

In an impending House Speaker vote, Rep. Jim Jordan‘s (R-Ohio) potential win could stave off major tech antitrust legislation, possibly benefiting tech giants like Google Inc. (NASDAQ:GOOGL), Amazon.com Inc. (NASDAQ:AMZN), and Apple Inc. (NASDAQ:AAPL).

Political strategists and industry lobbyists who spoke to CNBC expressed that Jordan has opposed bipartisan efforts to utilize antitrust legislation to disband tech companies, despite being their vocal critic.

“If Jim Jordan becomes Speaker, it is very unlikely that Congress will do anything on big tech in the near future,” Jon Schweppe, a policy director at the conservative American Principles Project told CNBC.

Jordan who won the GOP speaker nomination last Friday, faces a challenging task of gathering the required 217 votes to secure the speaker’s gavel in a closely divided chamber. The full floor vote on Jordan’s speakership is slated for Tuesday at noon.

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If Jordan is elected, it could bring relief to tech giants who have been under persistent scrutiny from Congress and regulators over potential illegal monopolies.

There are contrasting views within the GOP on how Congress should approach tech regulation. Some believe that Jordan’s potential speakership could slow down efforts to curb the influence of big tech companies.

Since 2020, Jordan’s campaign and affiliated political action committees have received over $15,000 from PACs or individual lobbyists for Google, Amazon, Apple, Microsoft, and Facebook’s parent company Meta (NASDAQ:META), according to lobbying contribution reports filed to Congress.

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