Washington, D.C. – TechNet, the national, bipartisan network of innovation economy CEOs and senior executives, today issued the following statement after Utah’s governor signed a new state privacy bill into law. The following can be attributed to TechNet’s Executive Director for the Southwest Dylan Hoffman:
“This legislation provides clear protections for consumers and gives Utah’s businesses the clarity needed to grow. But with the state passing its own privacy bill, we are well on our way toward a patchwork of 50 different state laws. This will confuse consumers and hurt small businesses that are struggling through the pandemic and record inflation. It’s not the internet of Utah or the internet of Colorado or Nevada. We need a federal privacy standard.
“Recent research shows that failing to pass federal privacy legislation would cost more than $1 trillion to our economy over 10 years, with more than $200 billion being paid by small businesses. This means that resources that could go toward creating jobs are being spent on compliance costs and legal bills. Rather than forcing American consumers and companies to navigate this patchwork of state-by-state laws, we need a unified approach that protects consumers no matter where they live and gives businesses certainty about their responsibilities.
“We are glad Governor Cox has signed a privacy bill into law that allows the same workability for Utah’s businesses that is provided in other states. But with yet another state enacting their own privacy legislation, it only highlights how the need for a federal privacy law has never been greater.”