Kay Bailey Hutchison: “our bill also allows for a true collaborative effort. The reason we are not supporting the bill that is on the floor…”

“our bill also allows for a true collaborative effort. The reason we are not supporting the bill that is on the floor today is because we believe it does not do the priorities that we can pass, and it does increase the mandates and the regulatory overkill, in our opinion, that will keep our companies from being able to move forward on an expedited basis to start protecting our systems. A priority of mine throughout this process has been that we help the private sector combat cyber attacks by breaking down the barriers to sharing information. If we could take that one step, we would be a long way toward ensuring that we are increasing the security of all Americans. The bill before us will actually undermine current information sharing between the government and the private sector. That bill's information-sharing title is a step backward because it slows the transfer of critical information to our intelligence agencies, and there is not sufficient protection from antitrust. In addition, there is no consensus in the Senate to grant the Department of Homeland Security broad new authority to impose burdensome regulations on the private sector. While I am pleased our colleagues who are cosponsoring the bill that is before us have made an effort to move away from direct regulation of our Nation's systems, it has a long way to go.…”