Week of June 6, 2022
Welcome to Franklin Square Group Tech Weekly! The House and Senate return from the Memorial Day recess this week to start a full agenda for the Summer. The Appropriations and Armed Services Committees begin markups on their annual legislative processes which are likely to yield some of the most substantive tech legislation of the year. The China Competition conference committee continues into its fourth week with the Administration and Congressional leaders publicly pushing for a conclusion. That goal is proving difficult as the 100+ member conference struggles to keep the end of June deadlines with the legislative complexity. The Biden Administration is working with Senators Manchin and Sinema to resurrect a smaller version of its Build Back Better package, while both the House and Senate work on a possible deal on gun safety legislation following a string of mass shootings. And, if that schedule doesn’t look daunting enough, the January 6 Committee hearings will begin this week.
What We’re Watching:
Private Privacy Discussions Go Public: The long-rumored, closely-held discussions of an agreement on privacy legislation from key committee leaders was finally made public last week as Chairman Frank Pallone (D-NJ) and Ranking Member Cathy McMorris-Rodgers (R-WA) joined Senate Commerce Committee Ranking Member Roger Wicker (R-MS) in releasing draft legislative text of a comprehensive privacy reform bill. This draft bill addresses the two long-standing stumbling blocks that have doomed past efforts at a privacy deal -- a private right of action which was a must have for Democrats and privacy groups and pre-emption of state privacy laws, a redline for Republicans. Senate Commerce Committee Chair Maria Cantwell (D-WA) was part of the negotiations, but did not sign onto the deal and is instead working on her own package similar to the bill she previously introduced in November 2021. The House negotiators are hopeful of moving this bill through the committee process and onto the House floor. It will be worth watching over the next couple weeks to see how rank-and-file Members react to this package.
Crypto’s Big Week in Washington: Senators Cynthia Lummis (R-WY) and Kirsten Gillibrand (D-NY) are expected to release their crypto bill, providing an adjusted regulatory framework for digital assets and cryptocurrency, as crypto continues to grab the attention of lawmakers. The Senate Homeland Security and Governmental Affairs Committee and the House Homeland Security Committee will hold separate hearings on the utilization of digital assets by criminal enterprises and terrorist organizations. These hearings follow the release of Senator Gary Peters’ (D-MI) report highlighting how cryptocurrencies facilitate cybercrimes, Senator Rob Portman’s (R-OH) report on ransomware attacks against U.S. companies, and the introduction of Rep. Elissa Slotkin’s (D-MI) bipartisan measure that would require Members of Congress to disclose cryptocurrency holdings and transactions.
Senate Antitrust Efforts Persist: Amid rumblings that Senate leadership will put antitrust legislation on the floor this summer, Senators Amy Klobuchar (D-MN) and Chuck Grassley (R-IA) released a new version of S. 2992, The American Innovation and Choice Online Act. Their bill is meant to prohibit certain platforms from preferencing their own services over competitors that utilize the platforms. Reaction to the new draft has been muted and it is yet to be seen if the changes sway the members--including both Republicans and Democrats--needed to get to the 60 vote threshold.
What’s Happening This Week:
Tech Hearings
Senate HSGAC hearing on ransomware and cryptocurrency - Tuesday, June 7 at 10:00 AM ET
House VA Subcommittee hearing on cybersecurity in the VA - Tuesday, June 7 at 10:00 AM ET
House Armed Services Cyber Subcommittee NDAAmarkup - Wednesday, June 8 at 10:00 AM ET
Senate Environment and Public Work Committee hearing on Nuclear Regulatory Commission Nominations - Wednesday, June 8 at 10:00 AM ET
House Souse Homeland Committee hearing on cryptocurrency and terrorism - Thursday, June 9 at 9:00 AM ET
USCC hearing on China Competition and Global Supply Chains - Thursday, June 9 at 9:00 AM
Senate Commerce Subcommittee hearing on NTIA oversight - Thursday, June 9 at 10:00 AM ET
Tech Events
RSA Annual Conference - June 6-9, San Francisco
The Hoover Institution - "Banking on Beijing: The Aims and Impacts of China’s Overseas Development Program" - Tuesday, June 7 at 2:00 PM PM
The Brookings Institution - "The future of the US dollar: Are its days as the world’s dominant currency numbered?" - Tuesday, June 7 at 10:30 AM ET
Washington Post Live - “The Evolution of Cryptocurrency” - Wednesday, June 8 at 9:00 AM ET
The R Street Institute - "Improving Patent Quality Improves Innovation" - Wednesday, June 8 at 2:00 PM ET
Woodrow Wilson Center - "Lessons from Europe: Deployment of Artificial Intelligence in the Public Sphere" - Thursday, June 9 at 10:00 AM ET
Data for Good - “Building Public Trust in AI Summit” - Thursday, June 9 from 1:30-5:30 PM ET
The George Washington University (GWU) Elliott School of International Affairs - "Our Immersive Digital Future" - Thursday, June 9 at 5:28 PM ET
What’s Interesting This Week:
Today marks the 78th anniversary of “D-Day” in World War II, where so many of our grandfathers carried “the hope and prayers of liberty-loving people everywhere” into the battles of the Longest Day.
