As The Verge reports, the bill would allow the FTC to set minimum privacy and cybersecurity standards for tech companies, issue fines up to four percent of a company's annual revenue and make it a crime for senior execs to lie to the agency regarding privacy issues. It would empower state attorneys general to enforce the regulations and let users opt out of data tracking for targeted ads. It would require some platforms to offer paid "privacy-protecting" versions, and it would use the Federal Communications Commission's (FCC) Lifeline program to make sure low-income people had access to those versions.