FY 2017 Budget Proposal Includes $19 Billion For Cybersecurtiy Projects
As part of the fiscal year 2017 budget President Obama unveiled on Tuesday, the Los Angeles Times reported that $19 billion is earmarked for a range of cybersecurity projects – “including $3.1 billion to replace out-of-date federal computer systems that are vulnerable to attack.” The Times said the 35 percent increase in proposed cybersecurity spending from last year “underscores a long-delayed shift in U.S. government priorities” that recognizes “the constant barrage of attacks on government agencies, major companies and crucial infrastructure as a major threat to U.S. national security.” The funds will also be used to establish the Commission on Enhancing National Cybersecurity, which will be comprised of nongovernment cyber professionals to help US businesses and citizens engage in better security practices. In a fact sheet issued by the White House on Tuesday on President Obama’s new Cybersecurity National Action Plan, Visa is cited as one of several “leading technology firms…mak[ing] it easier for millions of users to secure their online accounts…and to make transactions more secure.” Many news outlets reported on Obama’s Cybersecurity Action Plan, emphasizing the clout of cybersecurity in the President’s proposed 2017 budget plan. CNBC reported that “the White House’s Cybersecurity National Action Plan aims to fortify America’s digital defenses is the latest effort to protect Americans, government agencies and companies against the growing number of cyberattacks aimed at everything from national defense and health care to personal consumer data.”
What This Means For Small Businesses
Cybersecurity is a growing concern for organizations large and small, and small businesses have differing security needs than large government organizations. However, with the current White House prone to aggressive regulatory moves and divisive spending plans, it remains to be seen whether Congress will be willing to approve President Obama’s plans for cybersecurity.
Additional Reading
Roll Call also covered the story.
Note: this article is intended to keep small business owners up on the latest news. It does not necessarily represent the policy stances of NFIB.
