There is growing bipartisan frustration with “Big Tech” giants such as Amazon, Apple and Facebook leveraging their market power into control over consumers and even the internet itself. President Joe Biden’s first term will certainly see changes in the executive branch’s antitrust enforcement priorities on that front. But that’s not all. For the first time in years, a consensus around modernizing competition regulation sets the stage for a sea change in antitrust law itself.

Historically, Democrats—now in power after Biden’s inauguration and Georgia’s Senate runoff elections—have advocated for strengthening antitrust laws. But there are signs that Republicans will also support significant reforms.