Cybersecurity Bill in U.S. Senate Calls for Industry Rules

Companies running computer networks essential to U.S. economic and national security would be required to better defend their systems from spies, hackers and terrorists under Senate legislation.

The measure would create rules for identifying vital information networks and establish security requirements for companies and government agencies. Sen Majority Leader Harry Reid (D-NV) has said he wants to bring the bill to the chamber’s floor for a vote as soon as possible. “We are on the brink of what could be a calamity,” Sen Jay Rockefeller (D-WV) said in announcing the bill on the Senate floor. “A widespread cyber attack could potentially be as devastating to this country as the terror attacks that tore apart this country 10 years ago.” The legislation may affect computer security spending at businesses including Southern Co., the largest U.S. utility owner by market value, and AT&T Inc., the nation’s biggest telephone company. Lawmakers and regulators say new rules are needed to fight more sophisticated cyber attacks threatening to disrupt power grids, banks and communications networks.

The bill’s backers include Sen Joe Lieberman (I-CT) and Sen Susan Collins (R-Maine). The Senate Homeland Security and Governmental Affairs Committee scheduled a bill hearing for Feb. 16.

The bill abandons proposals that would give the President emergency powers over the nation's networks.