Cybersecurity bill drops today

The Senate Homeland Security Committee is expected to officially unveil a long-anticipated cybersecurity bill today. President Obama has been requesting such a bill for a long time and the bill in the Democratic-led Senate will task the Department of Homeland Security with determining which industries need greater oversight and regulation to make sure their security measures are up to snuff.

Important to note: the whole thing is doomed.

Because even though the Senate and Obama are keen on the bill, the Republican-led House does not want further regulation, preferring instead to give businesses a series of financial incentives to get them to share information on how security issues are being managed. So if a company decided it was financially worth it not to share information, then it wouldn’t.