Both Parties Invest in Crowdfunding

A look at the week of December 12 in public advocacy for the IT channel: This week, members of Congress are looking at innovative ways to fund small businesses.  A cybersecurity bill is making progress in the House Homeland Security subcommittee on cybersecurity.  Federal cloud providers have new security controls from the Obama Administration.

Both Parties Invest in Crowdfunding — Even as they continue to spar over taxes, deficit reduction and government regulations, members of Congress are eyeing new paths for entrepreneurs to raise funds.  Sen. Scott Brown (R-MA) is proposing “crowdfunding” as a way for start-up companies to land investors, an idea first pioneered by unsigned rock bands that used Internet donations from their fans to raise money for tours and recording sessions, says Politico, while Sens. Pat Toomey (R-PA) and Chuck Schumer (D-NY) have teamed up on a bill to lighten the regulatory burden for companies going public that have revenues of less than $1 billion.

Lawmakers Begin Hammering Out Compromise Cybersecurity Bill — The House Homeland Security Committee subcommittee on cybersecurity began hammering out the details of its legislative proposal as lawmakers from both parties focused on finding consensus, says The Hill. House Republicans favor more limited regulation, reduced barriers to information sharing and voluntary incentives for industry to beef up its protections, while the Democratic-led Senate and White House have called for broader and more stringent regulations overseen by the Department of Homeland Security.

Agencies, Contractors Get Rules of the Road for Cloud-Security Approvals — Federal cloud providers will have to comply with new, uniform security controls by June so that multiple agencies can piggyback off the certifications for faster installation, White House officials announced.  To more quickly slice $5 billion from the government's annual $80 billion information-technology tab, the Obama Administration has released requirements for expediting cloud-security approvals, reports National Journal.