Congressman Bob Latta (R-OH) and Congressman Peter Welch (D-VT) have introduced H.R. 6032, the SMART IoT Act, which directs the Secretary of Commerce to conduct a study on the state of the internet-connected device industry. According to one study, Internet of Things (IoT) applications are estimated to have a $11.1 trillion global economic impact by the year 2025. The Energy and Commerce Subcommittee on Digital Commerce and Consumer Protection, which is chaired by Congressman Latta, held a legislative hearing recently on the bill.
"The Internet of Things holds tremendous potential, both economically and in terms of quality-of-life," said Latta. "I've talked with small businesses, manufacturers, and farmers around my district that are utilizing IoT to be more productive, efficient, and safe. With this emerging cutting-edge technology, it's important that we identify opportunities and potential obstacles to IoT's implementation. The SMART IoT Act is the result of collaboration between myself and Congressman Welch, along with other members of the Energy and Commerce Committee, to ensure we take the right approach to IoT policy going forward."
"The Internet of Things is changing our lives in countless ways, from increasing household energy efficiency to improving health outcomes in rural America to increasing output on dairy farms," said Welch. "As more devices become interconnected, the federal government should encourage growth and innovation that will benefit consumers and businesses alike. The SMART IoT Act will help Congress better understand the policy implications of this growing industry and encourage continued innovation."
Latta and Welch launched an IoT Working Group in 2016 to discuss policy implications of the Internet of Things and challenges and opportunities that exist to the implementation and security of this technology.