We are entering a new phase in the lengthy cybersecurity legislation saga. Last Thursday, Senators Lieberman (I-CT), Collins (R-ME), Rockefeller (D-WV), and Carper (D-DE) introduced the revised Cybersecurity Act of 2012 out of the Homeland Security and Government Affairs Committee. Old name, but the new bill (S.3414) is a true compromise. Rather than mandating that critical infrastructure organizations comply with a DHS cybersecurity framework, the new bill provides incentives to organizations that comply with cybersecurity best practices voluntarily. Furthermore, the new bill borrows from the best of the Republican-sponsored alternative, SecureIT Act, as well as some of the more palatable measures outlined in the controversial CyberInformation Sharing & Protection Act (CISPA).
As of today (Monday, July 23, 2012), there is no schedule for debate or a vote, but President Obama already declared his support for the new bill and publicized his opinion in the Wall Street Journal.