I have to laugh. Why do you think this? They own everything. They have successfully taken over both parties for them to steam roll literally everything they want. Taxes have never been lower. The wealth gap never higher. The only people trying to stand up to them are progressives but even the Democratic party works against them. They've won. They have nothing to be afraid of.
Which country are you talking about? Theres no democratic party in Canada and the progressives in Canada are completely feckless due to their abysmal historical performance when in power in the provinces.
This is a Canadian bill and the party in power are (relatively) progressive and (definitely) democratic, though they are to the right of the American progressives and to the left of the American Democratic Party. More to the point, they do not remotely own everything.
They are unlikely to pass it directly without changes though. They are a minority government, and the Conservatives have been backed by foreign actors in various capacities in election cycles and are a strong enough opposition that they'll resent the crackdown, and the leftists are generally not fans of the local telecom industry (or the Liberal pandering to industry in general) and will probably want either less protection for telecoms or more protection for individuals.