Sen. Gillibrand Introduces Cybersecurity Information-Sharing Tax Credit Bill
Posted at 1:46 p.m. on July 31, 2014
Gillibrand walks past a Senate Armed Services Committee media stakeout on June 10. (Photo By Bill Clark/CQ Roll Call)
Sen. Kirsten Gillibrand, D-N.Y., introduced a bill Thursday to provide a tax credit for costs of joining cybersecurity information sharing groups.
The bill would allow costs like membership dues and costs related to sharing information with organizations such as Information Sharing and Analysis Centers (ISACs) to be counted as a tax credit.
“Businesses should take the same precautions to defend their data as they do with their buildings and inventory. Just as they purchase insurance and security systems, they should enter into agreements with information sharing organizations to help defend against cyber-threats,” Gillibrand said in a statement.
ISACs have been a long-time answer to industry-government coordination on threats to critical infrastructure, including the digital kind. But Gillibrand’s legislation is being introduced amid a long, slow and so far unsuccessful congressional effort so far to boost that sharing even more. Legislation to provide liability protection to companies sharing threat data, and to assist industry in receiving sensitive government information about cyber threats, has stalled since leaks by fugitive intelligence contractor Edward Snowden about the extent of U.S. intelligence agency collection of American citizens’ electronic and telephonic records.