OFFICIALS LEGISLATION INTEREST GROUPS PUBLIC STATEMENTS COMMITTEES VETOES

Consumer Safety Technology Act

Floor Speech

Date: June 22, 2021
Location: Washington, DC
Issues: Business and Consumers

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Ms. SCHAKOWSKY. Mr. Speaker, I thank the authors of this bipartisan legislation, Representatives McNerney, Burgess, Soto, Guthrie, and Davidson.

Mr. Speaker, the Federal Government should put the incredible technological innovation of the last few years to work for the American people, and that is exactly what this bill does. It promotes the use of artificial intelligence in product safety and studies how blockchain can protect consumers.

Regulators will be stronger and the American consumer safer when we consider how these technologies can help them achieve this mission.

Part of the mission of the Federal Trade Commission is to protect consumers from unfair and deceptive business practices. It is important to keep track of any such practices in the digital token ecosystem where unscrupulous businesspeople may be seeking to take advantage of the vast wealth created by digital tokens. This bill directs the Federal Trade Commission to report on its work keeping users of the digital token system safe.

Emerging technologies pose both perils and promise. That is why we must direct Federal agencies to make sure that consumers are safe.

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