CISPA is a third major bill in recent politics dealing with cybersecurity and online privacy matters. CISPA is preceded by SOPA and PIPA, which both failed to pass into law in recent years. The primary root of controversy over this bill is in the immunity it grants to corporations for sharing private information with the US Government, even in violation of privacy policies or agreements.
The White House has announced (PDF) it will veto the bill if presented to President in Obama in its current form, stating:
However, the Administration still seeks additional improvements and if the bill, as currently crafted, were presented to the President, his senior advisors would recommend that he veto the bill.The Administration… remains concerned that the bill does not require private entities to take reasonable steps to remove irrelevant personal information when sending cybersecurity data to the government or other private sector entities. Citizens have a right to know that corporations will be held accountable – and not granted immunity – for failing to safeguard personal information adequately.