CBO: IP bill would cost $47M over 5 years

The Congressional Budget Office has scored Sen. Patrick Leahy’s controversial bill aimed at shutting down foreign websites that infringe on copyrighted material and estimates it would cost about $47 million to implement over the next five years… Steve Tepp, senior director for IP enforcement at the Chamber of Commerce’s Global Intellectual Property Center, said in a statement that the CBO estimate “gave another boost to rogue site legislation.” He also highlighted the CBO’s finding that the bill would not affect direct revenues and spending nor affect state and local budgets. “Given that America’s IP-intensive industries employ more than 19 million Americans and generate nearly $7.7 trillion in gross output, should Congress decide to provide more resources to the Justice Department, it will be a small price to pay to save American jobs and protect American consumers,” Tepp said….

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