State of Modern Application, Research, and Trends of Iot Act

Floor Speech

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Mr. LATTA. Mr. Speaker, I move to suspend the rules and pass the bill (H.R. 6032) to direct the Secretary of Commerce to conduct a study and submit to Congress a report on the state of the internet-connected devices industry in the United States, as amended.

The Clerk read the title of the bill.

The text of the bill is as follows: H.R. 6032

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Mr. Speaker, I rise today in strong support of H.R. 6032, the State of Modern Application, Research, and Trends of IoT Act, or the SMART IoT Act.

Earlier this year, the SMART IoT Act was unanimously approved by the Digital Commerce and Consumer Protection Subcommittee and the full Energy and Commerce Committee.

I would like to thank Chairman Walden for his support of this bipartisan legislation. I also want to thank Representative Welch for his leadership as the original cosponsor of the SMART IoT Act and the many bipartisan members of the Energy and Commerce Committee for cosponsoring this bill.

Representative Welch and I have been working together on these issues for years, including as co-founders of the Internet of Things Working Group in the 114th Congress.

Today marks an important step towards maximizing the full potential of Internet-connected devices, more commonly known as smart devices.

Almost any physical object can be transformed into a smart device with microchips, sensors, and wireless communications. Once transformed, these smart devices connect through a network to share, exchange, and analyze data to gather insights used to solve problems or enable new capabilities.

IoT solutions will benefit consumers and businesses by improving productivity, efficiency, and much more. Whether we are talking about advancements to automobiles that will improve roadway safety and save lives or smart-city applications that will improve services for residents, one thing is clear: We have the chance to benefit from a more connected world.

Because of the vast benefits of IoT, we are seeing significant economic impacts across a number of industries. By 2025, it is projected that the total economic impact of IoT could reach $11.1 trillion. This includes value increases annually of up to $2.5 trillion in the healthcare sector, $2.3 trillion in manufacturing, $300 billion in infrastructure, $100 billion in agriculture, and $50 billion in vehicle use.

To realize these benefits, we must ensure the Government does not get in the way. Throughout numerous meetings over the years, we heard from many stakeholders. What became clear is that it is difficult to know who is doing what, both in the Federal Government and also in the private sector.

A lack of collaboration and dialogue presents the problem of creating unnecessary barriers to innovation and commonsense policy, something we cannot afford to do if we want to unleash the power of IoT in the United States. We must equip ourselves and industry with information about what Federal, public-private, and self-regulatory efforts are in place or under way.

This is why we developed the SMART IoT Act. The SMART IoT Act directs the Secretary of Commerce to create a compendium to answer that very question: Who is doing what? At the Federal level, this is what will help promote interagency discussions and avoid conflicting or duplicative obligations or regulations that may slow innovation and progress.

At the industry level, this will help innovators and businesses know how entities are developing, using, and promoting use of IoT solutions. It will also highlight industry-based efforts to self-regulate and provide all stakeholders with a resource to facilitate communication and information sharing.

The SMART IoT Act is a critical first step to future IoT policy efforts. It provides important information that will foster Federal collaboration and streamline private industry efforts.

We have an obligation to do what we can to promote American competitiveness and technological advancements that benefit Americans in an environment where other countries are trying to overtake the United States in technical innovation.

Mr. Speaker, again I thank Chairman Walden, Representative Welch, and all of the bipartisan cosponsors of H.R. 6032, the SMART IoT Act. I urge all my colleagues to support H.R. 6032, and I reserve the balance of my time.

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Mr. LATTA. Mr. Speaker, again, I urge support of H.R. 6032, and I yield back the balance of my time.

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