Bangalore: Information Technology & Innovation Foundation (ITIF), the world’s leading think tank for science & technology policy, publishes a new report that suggests a 'grand bargain' urging Congress to repeal & replace existing federal privacy laws with a common set of protections. The report calls for comprehensive data privacy legislation that preempts state laws, improves transparency requirements, strengthens enforcement, and establish a clear set of data privacy rights for Americans based on the sensitivity of the data and the context in which it is collected.

Speaking about the report, Daniel Castro, Vice President, ITIF, & co-author of the report says, “Rather than trying to maximize consumer privacy, data privacy legislation should focus on maximizing consumer welfare, which also includes lower prices, consumer freedoms such as choice and expression, and the innovation that leads to new products and services. Europe is a case study in how to create a data protection law that harms the digital economy and create needless red tape. The United States has an opportunity to do it much better. Federal data privacy legislation should streamline existing regulations, simplify compliance, improve enforcement, and strengthen protections for consumers. But we need a bold and novel approach to achieve this goal.”

To support US policymakers understand & evaluate data privacy concerns and craft federal privacy legislation for Americans businesses & consumers, this report distinguishes how diverse laws and frameworks around the world approach various data privacy issues. It represents 30 components incorporated in existing laws, frameworks, and legislative proposals; and describes each one’s likely impact on consumers, businesses, and the digital economy.

“Privacy regulations aren’t free—they create costs for consumers and businesses, and if done badly, they could undermine the thriving U.S. digital economy,” said ITIF Senior Policy Analyst Alan McQuinn, co-author of the report. “To avoid throwing a wrench into the digital economy and imposing expensive compliance burdens on businesses across all sectors, any data privacy regulations should create rules that facilitate data collection, use, and sharing while also empowering consumers to make informed choices about their data privacy,” adds Alan McQuinn, Senior Policy Analyst, ITIF & co-author of the report.

Established in 2006, ITIF, nonprofit, nonpartisan research and educational institute focusing on a host of decisive issues at the intersection of technological innovation and public policy is recognized as the world’s leading science & technology think tank. It formulates & promotes policy solutions that stimulate innovation and promote productivity to spur growth, opportunity, and progress.

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