US lawmakers approved a cybersecurity bill Thursday that provides more than $1 billion in funding to help the country’s most vulnerable businesses, including financial institutions and large retailers, as the nation grapples with the aftermath of the massive cyberattack.
The Cybersecurity and Information Sharing Act, or CISA, passed the House of Representatives with bipartisan support on a 230-170 vote.
The bill, which is a companion to the Cybersecurity Act of 2012, would create an agency that would share cyberthreat information with the Federal Trade Commission, the Securities and Exchange Commission, and the Federal Communications Commission.
The bill also provides $300 million for cybersecurity training.
The cybersecurity agency would be headed by a new chairman appointed by President Donald Trump.
“The United States is at an all-time low in cybersecurity,” House Majority Leader Kevin McCarthy (R-Calif.) said.
“It is time to make America a safer place to do business and to grow.”
The bill also includes $10 million for a cybersecurity research center at Johns Hopkins University, $1 million to hire 100 cybersecurity experts for the Federal Bureau of Investigation, and $150 million to establish a national cybersecurity training center.
It also gives $1,000 for each person to register on the federal government’s National Incident Response Team, which responds to cyberattacks.
“Cybersecurity is our biggest vulnerability and our biggest economic opportunity,” McCarthy said.
The Senate approved the cybersecurity bill on a 51-47 vote with five Democrats joining Republicans in opposing it.
The legislation would give the Federal Reserve $50 million to help support cybersecurity research and develop tools to prevent future cyberattacks on the economy.