Sean Patrick Maloney: “We are at the beginning of a new century which is more information, more wired, and technology driven. Our evermore…”

“We are at the beginning of a new century which is more information, more wired, and technology driven. Our evermore global new economy is changing the way Americans work and communicate with each other. This conference committee report is part of that change, and I fully endorse it. This legislation knocks down another barrier to a fully incorporated digital information-based economy. The bill requires that e-signatures be treated legally, the same as written ones, for commercial contracts, agreements and records. For consumers, this bill means less paperwork, major time savings and reduced costs. This will greatly increase the attractiveness and efficiency of on-line commerce. An important privacy protection will require consumers to opt in to receive records electronically. This strikes an important balance, ensuring that consumers' interests are adequately protected as transactions are increasingly completed in digital form. While the information economy is changing the way people live around the world, it is having an even more profound impact on the congressional district in New York City, which I represent, particularly the silicon alley area. The technology industry is responsible for 100,000 new jobs in New York City alone in the 1990s.”