Many technology companies including Microsoft and Facebook support CISPA, which they say will help them protect their systems from cyberattacks.
The House is expected to vote on the bill next week.
Tom Molino, vice president of government affairs for the BSA, said he is confident that the two sides can find a solution.
"I really believe that progress was made," Molino told The Hill. "The two sides aren't diametrically opposed."
Molino emphasized that privacy is important to the technology industry.
"We think this is not the same thing as SOPA-PIPA," Molino said, referring to anti-piracy legislation that Congress abandoned after pressure from Internet activists. "We're doing our best to make sure that people understand that."