Washington, D.C. – TechNet, the national, bipartisan network of innovation economy CEOs and senior executives, released the following statement from TechNet President and CEO Linda Moore after a revised American Innovation and Choice Online Act was introduced in the U.S. Senate:

“The revised legislation still fails to address significant concerns about our national security and global competitiveness. Before rushing this to the Senate floor, we need a bipartisan hearing to explore the broad ramifications of such a sweeping measure.

“There has been no hearing with the FBI, NSA, or CIA to examine potential security risks despite continued warnings from security experts. The bill in its revised form would still only apply to iconic American businesses, not to our foreign adversaries. This would benefit countries looking to undermine U.S. influence and global leadership and make it harder for American companies to counter ongoing Russian disinformation campaigns and growing cyber threats.

“At a time when inflation is the top concern for voters, Congress must also listen to their constituents. Only three percent of voters rank tech regulation as a priority. 97 percent of voters want to see action on issues that matter to them, including passing a federal privacy law, which more than 80 percent of voters support.”