What is the real cost of Amazon’s low pricing? The FTC and Congress have antitrust law …

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This story is part of a recode series on big tech and antitrust law. In the next few weeks we will report what happened to Apple, Amazon, Facebook, Google and Microsoft.

After another year of record sales, Amazon is struggling with a few unwanted updates in the new year. The Senate Justice Committee has announced that it will shortly pass the American Innovation and Choice Online Act, an antitrust law against Amazon and other big tech companies. This follows reports that the Federal Trade Commission is stepping up its year-long antitrust investigation into Amazon’s cloud computing arm, Amazon Web Services, or AWS.

It is clearer than ever that Amazon, which has grown largely unhindered for more than two decades, is in the midst of an international attempt to test the power of big tech.

The Senate bill, one of several bipartisan antitrust laws in Congress, would prohibit Amazon from giving priority to its products …

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