Week of May 23, 2022
President Biden is in South Korea and much of the focus is China. He announced an Indo-Pacific economic cooperation plan to counter China and visited a Samsung semiconductor FAB, once again talking about the mounting supply chain challenges faced in that sector. The House is out this week until June 7. The Senate is still in session to wrap up business before they start their Memorial Day recess. The China Competition Conference Committee continues its work with an ambitious target date ahead of the July 4th recess.
What We’re Watching:
Antitrust Tech Bills Get Traction in the Senate: A pair of bipartisan antitrust bills are angling for Senate floor time. S. 2992, The American Innovation and Choice Online Act, would prohibit certain platforms from preferencing their own services over competitors that utilize the platforms. S. 2720, the Open Apps Markey Act, would regulate the Apple and Google App ecosystems. Other bills such as The Competition and Transparency in Digital Advertising Act, which would prevent large companies from owning more than one side of the online ad ecosystem, are also vying to join the debate. Targeting “big tech” platforms continues to be one of a few areas of bipartisan agreement on Capitol Hill. While these are getting favorable reviews from key policymakers, the reality of a growing legislative “to do” list compared to a decreasing number of legislative days remaining in the year will make it challenging for Majority Leader Chuck Schumer (D-NY) to find floor time for these bills.
Texas Internet Content Moderation Law Heads Towards the Big Time: The Texas law targeting social media’s content moderation practices could move one step closer to the US Supreme Court, pending Justice Samuel Alito’s ruling on the industry’s appeal of a 5th Circuit Court’s ruling that allows the law to go into effect. Industry associations have joined with free speech and civil liberties advocates against the Texas law’s impact on the ability of the private sector to regulate its own content, as this case has brought the federal courts into the long-simmering debate around online content moderation. In a past ruling, Supreme Court Justice Clarence Thomas has suggested that some platforms should be regulated as common carriers, however, the other Justices haven't provided as strong of an indication on how they might rule. The implications of this case could be far-reaching as more states take it upon themselves to address content moderation.
Lummis Set to Introduce Crypto Legislation: As soon as this week, Sen. Cynthia Lummis (R-WY) and Sen. Kirsten Gillibrand (D-NY) are expected to introduce their long-awaited bill centering around adjusting the regulatory framework for digital assets, as Lummis hinted last week at an American Enterprise Institute event. She noted that the bill will seek to improve the regulations around crypto including taxation requirements. The congressional focus on cryptocurrency remains strong as members look to gain a better understanding into the unprecedented multi-trillion dollar industry. The House Financial Services Committee will also be holding a hearing exploring digital assets, including establishing a novel Central Bank Digital Currency (CBDC). Timing for legislation remains an uphill battle with both the House and Senate prioritizing other issues of concern.
What’s Happening This Week:
Hearings
House Energy and Commerce Subcommittee hearing on strengthening communications networks - Tuesday, May 24 at 11:00 AM ET
House Oversight and Reform Subcommittee hearing on the Technology Modernization Fund - Wednesday, May 25 at 10:00 AM ET
Senate Finance Committee hearing on securing the supply chain - Wednesday, May 25 at 3:00 PM
House Committee on Financial Services hearing on Central Bank Digital Currency (CBDC) - Thursday, May 26 at 12:00 PM ET
Tech Events
CISA Virtual Industry Day - Wednesday, May 25 at 1:00 PM ET
The Atlantic Council - "Road to the Summit: A digital future for the Americas” - Monday, May 23 at 2:00 pm ET
The Library of Congress - "Preserving Internet Content for Research Use" - Monday, May 23 at 6:00 PM ET
The Heritage Foundation - "Bitcoin and the American Experiment" - Monday, May 23 at 6:00 PM ET
The Fed Summits - "Data Governance & Data Quality – A foundation to enable your organization’s AI/ML strategy" - Tuesday, May 24 at 12:00 PM ET
The Information Technology and Innovation Foundation (ITIF) - "How Can AI Improve Educational Outcomes in the United States?" - Tuesday, May 24 at 1:00 PM ET
General Services Administration (GSA) - "What Artificial Intelligence Means for State, Local & Tribal Gov't." - Tuesday, May 24 at 2:00 PM ET
The Information Technology and Innovation Foundation (ITIF) - "What’s Next for the AI Act: Perspectives from Across Europe" - Wednesday, May 25 at 10:00 AM ET
Inter-American Dialogue - "ONLINE EVENT: Media Sustainability in the Big Tech Era" - Wednesday, May 25 at 11:00 AM ET
The Fed Summits - "Impact of AI and Machine Learning on Financial Crime Investigation" - Thursday, May 26 at 1:30 PM ET
What’s Interesting This Week:
A Long Time Ago in a Galaxy Far, Far Away … Star Wars was released across the United States on May 25, 1977, launching one of the most widely revered franchises known to man.
