Skip navigation


Current DateTime: 12:19:12 23 Feb 2012
LinksList Documentid: 24355697

Current DateTime: 12:19:12 23 Feb 2012
LinksList Documentid: 23452764
Expiration DateTime: 2/23/2012 12:21:24 AM

MOST SHARED


Current DateTime: 12:19:13 23 Feb 2012
LinksList Documentid: 31330905
Expiration DateTime: 2/23/2012 12:21:45 AM

Current DateTime: 12:19:13 23 Feb 2012
LinksList Documentid: 35819650
    • ETF Strategist | Fixed Income

        Exchange-traded funds are hot, but are they right four your portfolio? Learn the pros and cons of various asset classes and sectors.


Current DateTime: 12:19:13 23 Feb 2012
LinksList Documentid: 35819653

Online Piracy Bill Is Postponed by Congress

Published: Friday, 20 Jan 2012 | 10:25 AM ET
Text Size
By: AP

Facing a storm of protest over online piracy legislation, Senate and House leaders said Friday they will put off further action on the measure.

Google
Source: www.google.com
On Wednesday, visitors to Google were told how to protest against SOPA.

Senate Majority Leader Harry Reid, D-Nev., said he was postponing a test vote set for Tuesday "in light of recent events." Those events included a petition drive by Google [GOOG  Loading...      ()   ] that attracted more than 7 million participants and a one-day blackout by the online encyclopedia Wikipedia.

House Judiciary Committee chairman Lamar Smith, R-Texas, quickly followed suit, saying consideration of a similar House bill would be postponed "until there is wider agreement on a solution."

The Senate's Protect Intellectual Property Act and the House's Stop Online Piracy Act have strong support from the entertainment industry and other businesses that lose billions of dollars annually to intellectual property theft and online sales of counterfeit products. But they also have strong opposition from Internet-related companies that argue the bill would lead to over-regulation and censorship of the Internet.

Reid has also seen at least a half-dozen senators who sponsored the bill announce they now oppose it.

Reid said counterfeiting and piracy cost the American economy billions of dollars every year and "there is no reason that the legitimate issues raised by many about this bill cannot be resolved." He said he was optimistic about reaching a compromise in the coming weeks.

The main Senate sponsor, Judiciary Committee chairman Patrick Leahy, D-Vt., said he respected Reid's decision to postpone the vote but lamented the Senate's unwillingness to debate the bill.

"The day will come when the senators who forced this move will look back and realize they made a knee-jerk reaction to a monumental problem," he said. Criminals in China, Russia and other countries "who do nothing but peddle in counterfeit products and stolen American content are smugly watching how the United States Senate decided" it was not worth debating the bill.

The Senate bill would allow the Justice Department, and copyright holders, to seek court orders against foreign websites accused of copyright infringement. It would bar online advertising networks and payment facilitators such as credit card companies from doing business with an alleged violator. It also would forbid search engines from linking to such sites.

The Tuesday vote was on whether to move the legislation to the Senate floor for debate. With the recent desertions and a statement Thursday by Senate Republican leader Mitch McConnell that it is too early to consider the bill, it appeared supporters lacked the 60 votes needed to advance the measure.

McConnell on Friday applauded Reid's decision, saying it would "prevent a counterproductive rush toward flawed legislation."

In the House, Smith said he had "heard from the critics" and resolved that it was "clear that we need to revisit the approach on how best to address the problem of foreign thieves that steal and sell American inventions and products." Smith had planned on holding further committee votes on his bill next month.

RELATED LINKS

© 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


Current DateTime: 01:18:33 22 Feb 2012
LinksList Documentid: 29778428

Current DateTime: 03:38:29 22 Feb 2012
LinksList Documentid: 29779196

Current DateTime: 12:30:56 22 Feb 2012
LinksList Documentid: 29779197

Current DateTime: 11:00:30 22 Feb 2012
LinksList Documentid: 29779199
CNBCCNBC
About CNBC  |  Site Map  |  Video Reprints   |  Advertise  |  Help  |  Contact
Privacy Policy  |     |  Terms of Service  |  Independent Programming Report
  Data is a real-time snapshot  *Data is delayed at least 15 minutes
Global Business and Financial News, Stock Quotes, and Market Data and Analysis

© 2012 CNBC LLC.  All Rights Reserved.
A Division of NBCUniversal
Thomson ReutersThomson Reuters