I think that as Mr. Pratt said earlier, most of the innovation that has taken place in the digital revolution has come from here in the U.S.

It is clear that everybody in this room has learned something today, and cares deeply about these issues as we move these forward.

Why should we move toward a regulatory approach that has proved to hold back the Internet sector in that particular region?

The time has come for Congress to take these growing threats more seriously.

I would allow the gentleman to answer the question, though.

The Federal Government hasn't done a study in, what, 10 years? Do you or any of the other agencies have plans to conduct another study soon to gather hard data?

If a regulation is needed, presumably there is harm or consumer injury and the regulation is seeking to prevent.

I introduced a bill in the last Congress and reintroduced it in this Congress. It is called the Best Practices Act, H.R. 611.

And it is clear to me anyway that personal data truly is a gold rush of our time.

I don't believe industry has proven that it is doing enough to protect American consumers, while government, unfortunately, tends to overreach whenever it comes to new regulations.

Today, we have a unique opportunity to make a real difference in the lives of millions of Americans.