Connect with us

Hi, what are you looking for?

Universal Financial DomeUniversal Financial Dome

World

US lawmakers consider changes to TikTok crackdown bill -senator

 – US lawmakers are considering changes to address concerns about a bill that would give the Biden administration new powers to ban Chinese-owned TikTok, the chair of the Senate Intelligence Committee who has cosponsored the legislation said on Monday.

Democratic Senator Mark Warner told Reuters that aggressive lobbying by the ByteDance-owned short video app TikTok against the Restrict Act “slowed a bit of our momentum” after it was introduced in March.

Mr. Warner said lawmakers have “a proposal on a series of amendments to make it explicitly clear” and address criticisms, including that individual Americans could be impacted or that the bill represents a broad expansion of government power.

“We can take care of those concerns in a fair way,” Mr. Warner said.

The legislation endorsed by the White House would grant the Commerce Department new authority to review, block, and address a range of transactions involving foreign information and communications technology that pose national security risks.

“I will grant TikTok this – they spent $100 million in lobbying and slowed a bit of our momentum,” Mr. Warner said, adding that initially it seemed it would be almost “too easy” to get the bill approved.

TikTok did not immediately respond to a request for comment on Warner’s assessment of its lobbying.

In March, Republican Senator Rand Paul blocked a bid to fast-track a separate bill to ban TikTok introduced by Senator Josh Hawley, who said the Restrict Act “doesn’t ban TikTok. It gives the president a whole bunch of new authority.”

The Biden administration in March demanded TikTok’s Chinese owners divest their stakes or face a US ban. Attempts in 2020 by then President Donald Trump to ban TikTok were blocked by US courts.

Mr. Warner said there are a lot of conversations about the bill, adding it could be attached to an annual defense bill or could be part of a China-related bill that Senate Democratic Leader Chuck Schumer wants.

The need for legislation is clear, he said.

“There have been another three or four apps that have come out that are Chinese controlled so we need a fair rules-based process to deal with this rather than kind of a one-off basis,” Mr. Warner said.

TikTok, which is used by more than 150 million Americans, says it has spent more than $1.5 billion on rigorous data security efforts and rejects spying allegations.

The company is fighting a ban by the state of Montana set to take effect on Jan. 1. A judge has scheduled an Oct. 12 hearing on TikTok’s request. – Reuters

Advertisement

    You May Also Like

    Sports

    Tough start to the week for Charlie Woods, and it had nothing to do with his golf game. While warming up for Friday’s pro-am...

    Sports

    The Buffalo Bills know safety Damar Hamlin, who has recovered from collapsing after a cardiac arrest during a game on Jan. 3, wants to...

    Sports

    The Boston Bruins’ record-setting 65 wins and 135 regular-season points have rolled back to zero. The big number now is 16, the number of...

    World

    WASHINGTON — The United States scrambled F-16 fighter jets in a supersonic chase of a light aircraft with an unresponsive pilot that violated airspace...

    Disclaimer: UniversalFinancialDome.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 UniversalFinancialDome.com | All Rights Reserved