Washington, D.C. – TechNet, the national, bipartisan network of innovation economy CEOs and senior executives, released the following statement today on the Senate Judiciary Committee’s subcommittee hearing on Competition Policy, Antitrust, and Consumer Rights. Executives from two TechNet member companies testified before the committee. The following can be attributed to Linda Moore, TechNet President and CEO:
“A thoughtful and comprehensive discussion on proposed antitrust legislation is needed, including hearing from America’s leading and emerging technology companies. America is stronger when innovation and entrepreneurship is embraced and encouraged through a thoughtful regulatory balance that boosts America’s economy and global competitiveness. That is why we continue to urge Congress to pass a national privacy law. The need has never been greater and only through federal legislation can consumers be assured that their data will be protected no matter where they live, while providing businesses with the certainty needed to innovate and grow.”
Earlier this year, TechNet sent a letter to members of the House Judiciary Committee urging the committee to hold hearings to learn about the consequences of proposed antitrust legislation. TechNet also joined a dozen other organizations in a joint letter to the same committee highlighting the widespread consumer harms these bills would create.