Biden has but to fill these two key positions
President Joe Biden is busy signing executive orders to reverse the guidelines enacted by former President Donald Trump. His long to-do list also includes the nomination of the heads of two key agencies.
The Federal Communications Commission
The FCC is one of the most powerful US government agencies because it regulates large corporations. It enables Biden to jump over a stalled Congress to issue guidelines.
Biden’s election as chairman of the FCC is likely to have the task of promoting the “net neutrality” rules that make it difficult for Internet service providers like Verizon VZ (+ 0.37%) or Comcast CMCSA (+ 0.07%) to discriminate against content providers.
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The Agency Chair is also expected to drive actions that reduce the “digital divide”. This refers to how rural areas and low-income households do not have access to high-speed internet.
Finally, the Presidency is expected to also weigh Section 230, which prevents social media sites from being held responsible for the content posted by their users.
The Federal Trade Commission
The FTC has played a key role in driving or preventing major mergers and acquisitions. The main objective of the agency is to enforce antitrust laws that prevent monopolies from arising.
The FTC chairman could play an important role in the ongoing antitrust investigation of Google Inc. by Alphabet Inc., + 5.36% toget, + 5.36%,
Facebook Inc. FB, + 2.44%,
Amazon.com Inc. AMZN (+ 4.57%) and Apple Inc. AAPL (+ 3.29%).
Current FTC chairman Joseph Simons, who was appointed by Trump, plans to step down from his role on Jan. 29.
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