Linda Moore President and CEO at TechNet | Official website
TechNet, a bipartisan network of innovation economy CEOs and senior executives, has emphasized the critical need for a comprehensive federal privacy law ahead of an upcoming privacy hearing in the House Energy and Commerce Subcommittee on Innovation, Data, and Commerce.
In a statement attributed to President and CEO Linda Moore, TechNet stressed the importance of addressing the current patchwork of state privacy laws that is causing confusion among consumers and impacting the economy. Moore stated, “The need for a comprehensive and preemptive federal privacy law has never been greater... A 50-state privacy patchwork would cost the American economy more than $1 trillion over 10 years, with $200 billion being paid by small businesses.”
TechNet called on Congress to take action and pass a bipartisan federal data privacy law that guarantees individuals the right to access, correct, and delete their data, while also providing clarity for businesses to focus on job creation rather than legal challenges. Moore expressed gratitude towards House Energy and Commerce Committee Chair Cathy McMorris Rodgers and Senate Commerce Committee Chair Maria Cantwell for their bipartisan efforts in crafting federal privacy legislation.
Since 2018, a significant number of privacy bills have been considered across states, with 18 states already passing comprehensive privacy laws. TechNet's initiative, United for Privacy, aims to unite various industries in advocating for the urgent passage of a federal data privacy law.
The statement highlighted the economic impact of a fragmented privacy regulatory landscape, with small businesses facing significant privacy-related expenditures. It was noted that in 2023, the average privacy spend of small businesses with 50-249 employees was $1.5 million.
Furthermore, a majority of voters across party lines have recognized privacy legislation as a top Congressional priority, underlining the widespread support for federal privacy regulations. TechNet's United for Privacy coalition has actively engaged with lawmakers, small business owners, and industry organizations to drive discussions on the importance of enacting a federal data privacy law.
TechNet's advocacy for a comprehensive federal privacy law aligns with the growing urgency to establish consistent regulations that protect consumer data and support economic growth.
