TikTok Ban Passes Ahead of Meta Earnings: What To Know

Lawmakers voted in favor of banning social media platform TikTok just ahead of rival Meta Platforms' earnings report.

smartphone with Meta's Facebook and Instagram apps, plus TikTok , Snapchat and X
(Image credit: iStock)

Meta Platforms (META) opened higher Tuesday after lawmakers in both the House of Representatives and the Senate passed legislation that will ban rival social media app TikTok in the United States.

The TikTok ban was added to a larger bill that provides $95 billion in aid to Ukraine and Israel by the House over the weekend and passed there Saturday by a vote of 360-58. On Tuesday, the bill cleared the Senate, 79-18, and now heads to the desk of President Joe Biden, who has said he will sign it. 

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Joey Solitro

Joey Solitro is a freelance financial journalist at Kiplinger with more than a decade of experience. A longtime equity analyst, Joey has covered a range of industries for media outlets including The Motley Fool, Seeking Alpha, Market Realist, and TipRanks. Joey holds a bachelor's degree in business administration.