S. 673 would authorize digital journalism providers to collectively negotiate with large online platforms over the terms and conditions of the platforms’ use of content. The bill would ensure that providers do not violate federal antitrust laws when they negotiate with or withhold content from large online platforms. S. 673 also would prohibit platforms from retaliating against providers for participating in collective negotiations or arbitration authorized under the bill. CBO estimates that enacting S. 673 would not affect direct spending or revenues. CBO has not estimated the discretionary costs of implementing the bill. The bill would impose intergovernmental and private-sector mandates as defined in the Unfunded Mandates Reform Act (UMRA). The cost of the intergovernmental mandate would not exceed the UMRA threshold of $92 million in 2022 (adjusted annually for inflation). CBO cannot determine whether the cost of the private-sector mandate would exceed the annual threshold of $184 million in 2022 (adjusted annually for inflation).
