From developing powerful new medical technologies to improving financial transparency, President Obama’s 2016 budget proposal includes numerous data-focused, non-partisan provisions that will offer great benefits to the public and private sector. Congress should be sure to keep this in mind as it develops its own proposal.
Congress Should Not Undo Progress on Financial Data Reform
While there have been some challenges in implementing data-favorable policies we should not abandon or impede the process in the name of reform. For example, Congress would better serve stakeholders by requiring that more, not less, information be submitted to government agencies, such as the SEC, in machine-readable formats, and abandoning the redundant requirement for document-based forms.
A Lot of Private Sector Data is Also Used for Public Good
Data collected by the private sector is being used to advance medical research, to help students make better academic decisions and to provide government agencies and nonprofits with actionable insights. Despite this, writes Josh New in Computer World, many inside and outside of government are calling for legislation to restrict the collection and use of data by the private sector. This could have a distinct chilling effect on such data-driven innovation and hamper multiple efforts to improve society.