U.S. Panel Votes To Allocate $1 billion For FTC

Share post:

On Tuesday, the United States Energy and Commerce Committee voted to allocate $1 billion to the Federal Trade Commission to set up an office to improve data security and privacy, and to fight identity theft.

According to a summary released by the panel, the proposal, which Democrats have included in a $3.5 trillion spending measure, would be critical to providing the necessary funding for a new bureau over a 10-year period to address “unfair or deceptive acts or practices relating to privacy, data security, identity theft, data abuses, and related matters.”

In addition to using $1 billion to set up a bureau, the Energy and Commerce bill also uses $3 billion to cover the cost of providing direct government loans to manufacture “zero-emission medium and heavy-duty vehicles, trains or locomotives, maritime vessels, aircraft, or hyperloop technology.”

It will allocate $1 billion for conversion grants for domestic production of zero-emission vehicles, and $10 billion for supply-chain resilience projects, including demonstrating technological advances for critical manufacturing supply chains.

For more information, read the original story in Reuters.


Related articles

Federal Reserve targeted by ransomware gang: Claims of 33TB data theft

The Federal Reserve, the central banking system of the United States, is reportedly in negotiations with the ransomware...

Department of Homeland Security starts its “AI Corps”

The Department of Homeland Security (DHS) has announced the first 10 hires for its newly established AI Corps,...

Apple will not release new AI features in Europe

Apple has announced that three significant features in iOS 18 and macOS Sequoia won't be available to European...

Big tech firms and US government join together for first AI attack simulation

Federal officials, AI model operators, and cybersecurity companies conducted the first joint simulation of a cyberattack involving a...

Become a member

New, Relevant Tech Stories. Our article selection is done by industry professionals. Our writers summarize them to give you the key takeaways