Washington, D.C. – TechNet, the national, bipartisan network of innovation economy CEOs and senior executives, today sent a letter to the Senate Judiciary Committee urging the committee to hold hearings to examine and prevent potential unintended consequences of the American Innovation and Choice Online Act rather than rushing to markup the bill. The following can be attributed to Carl Holshouser, TechNet SVP:
“Amid a pandemic and record inflation, now is not the time for lawmakers to rush through a bill that would raise costs on hardworking Americans and small businesses across the country. The American Innovation and Choice Online Act would fundamentally alter our economy and would negatively impact conveniences that individuals and businesses rely on every day. That’s why this bill deserves a thoughtful policy discussion around its impact on our economy, user privacy, inflation, national security, and American competitiveness. The Committee should hold hearings focused on consumer harms, global competitiveness and national security, and harm to small and medium-sized businesses to learn of potential unintended consequences instead of rushing the bill through the markup process.
“With Americans worried about inflation, this bill would increase the price we pay for many everyday items, from school supplies to home essentials. It would also impact the digital tools we rely on to stay connected to our families, schools, and jobs.
“The bill would add additional burdens for small businesses. Without the tools and services provided by the companies targeted in this bill, small businesses will pay more to reach new and existing customers, sell goods, and create employment opportunities. Those rising costs will get passed on to consumers. It will also result in fewer jobs being created, the slowing of our economy, and the weakening of American competitiveness. In fact, the bill would only apply to American businesses, not to our foreign adversaries.
“Instead of rushing through a bill that would have unintended consequences for millions of Americans and businesses across the country, lawmakers should focus on legislation that Americans and businesses want – a federal privacy law that gives consumers assurances their data is protected no matter where they live while offering businesses certainty about their responsibilities.”