Republicans to introduce cybersecurity alternative Thursday

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The Lieberman-Collins bill would give the Homeland Security Department regulatory authority over companies with computer systems crucial to the nation's economic and physical security. The bill would require that the companies take adequate precautions to safeguard their systems and would increase information-sharing about cyber threats between the private sector and the government. 

McCain has said he is concerned the bill will duplicate cybersecurity efforts by the Defense Department, grow the budget deficit and impose burdensome regulations on businesses.

Senate Majority Leader Harry Reid (D-Nev.) plans to bring the Lieberman-Collins bill directly to the Senate floor, bypassing any committee votes. 

An spokeswoman for Lieberman said the senator is open to incorporating ideas from the alternative Republican bill into his own legislation.

"Senator Lieberman is pleased his colleagues share the belief that we must act to protect our nation from cyber threats," the spokeswoman said. "Although our approaches differ, the Senator looks forward to engaging with them on this critical issue to pass a bill that will secure the nation’s most critical infrastructure from cyber attack."

--Updated at 3:54 p.m.