The rapid growth of state-level privacy laws in the United States has created a confusing patchwork of regulations, hindering innovation and burdening businesses with compliance costs. Studies estimate that failing to pass a federal data privacy law could cost the economy over $1 trillion in a decade, with small businesses bearing a significant portion of the burden. Thirteen states have already enacted comprehensive privacy laws, and there is a growing trend in this direction. It is crucial for Congress to pass a federal privacy law that protects citizens’ data nationwide and provides clarity for businesses. Such legislation enjoys strong bipartisan support and is seen as essential to protect privacy and promote economic growth.
Copyright 2021. The Software & Information Industry Association. All Rights