New Analysis: Cost of Proposed Tech Regulations Would Total Up to $109 Billion for Public Sector Workers, $1.02 Trillion for U.S. Investors

The Computer & Communications Industry Association today released an economic impact analysis revealing that proposed regulations in antitrust bills, such as S. 2992 and H.R. 3816, would come at a cost of billions or more for U.S. investors and pension plan members – including teachers, firefighters, law enforcement, and nurses.

Troubling findings show that by the end of the next decade, increased operating costs for companies regulated by the proposed legislation would reduce their market value significantly. That could mean up to $109 billion in losses for public sector pension plans and $1.02 trillion in losses for investors in S&P 500 index funds and large-cap firms.

Arizona pension plan members could immediately see a fiscal impact of more than $61.5 million upon enactment of the tech regulatory bills, because of their direct impacts on five U.S. businesses that would be regulated immediately: Google, Apple, Microsoft, Meta, and Amazon. The costs expected by the 2030s, when 100 leading U.S. businesses would be regulated under the bills, are estimated to be more than $1.4 billion.

When averaged among Arizona’s 693,705 pension members, the immediate impact would be $88.72 per pension plan member. By the 2030s, that impact would grow to $2,069.50 per pension plan member. CCIA has created an interactive map displaying the expected losses for public sector workers on a state-by-state basis.

“Tech regulatory bills like S. 2992 and H.R. 3816 would cost U.S. investors up to a trillion dollars from increased operating costs and reduced market value,” said Trevor Wagener, CCIA Director of Research and Economics. “Supporters of the bills have offered no quantitative economic analysis of the costs and benefits of the bills that show any quantifiable benefits for those Americans in return.”