Chairman Mike Rogers, R-Mich., and ranking member Dutch Ruppersberger, D-Md., presented the Cyber Intelligence Sharing and Protection Act, which follows recommendations made last month by the House Republican cybersecurity working group, to advance comprehensive cybersecurity legislation in Congress, The Hill reported.
"There is an economic cyber war going on today against U.S. companies," Rogers said. "There are two types of companies in this country, those who know they've been hacked, and those who don't know they've been hacked."
"We simply can't stand by if we have the ability to help American companies protect themselves. Sharing information about cyber threats is a critical step to preventing them," Ruppersberger added. "This bill is a good start toward helping the private sector safeguard its intellectual property and critical cyber networks, including those that power our electrical, water and banking systems."
The House bill contains no security mandates and its provisions are all voluntary.
"We appreciate that this legislation avoids a prescriptive regulatory regime that does not fit the constantly evolving cyber threat environment and it appropriately allows individual companies to determine how they can best participate," National Cable and Telecommunications Association President Michael Powell said in a statement.