Protect Liberty and End Warrantless Surveillance Act of 2026

HR7816, titled the "Protect Liberty and End Warrantless Surveillance Act of 2026," was introduced in the House on March 5, 2026, and subsequently referred to the Committee on the Judiciary and the Permanent Select Committee on Intelligence. The bill seeks to amend the Foreign Intelligence Surveillance Act of 1978 to implement reforms, specifically prohibiting warrantless queries for communications of United States persons and limiting directives under FISA related to certain electronic communication service providers. Additionally, it aims to amend title 18, United States Code, to prevent law enforcement and intelligence agencies from obtaining certain commercially available information, including protections for records held by data brokers. This bill does not authorize or appropriate any specific funding. Its primary mechanism is regulatory, aiming to restrict government access to data rather than providing financial incentives or direct procurement. Therefore, there is no direct money trail from this legislation to specific companies in terms of government contracts or grants. The impact would be through changes in operational requirements for intelligence agencies and data-handling practices for companies. Structural winners under this legislation, if enacted, would be companies that prioritize and can effectively market enhanced privacy and data protection services, as the regulatory environment for government access to data would become more stringent. This could include cybersecurity firms like CrowdStrike ($CRWD), Palo Alto Networks ($PANW), SentinelOne ($S), and Fortinet ($FTNT) that offer privacy-enhancing technologies. Companies that collect and sell commercially available information, such as large technology platforms like Microsoft ($MSFT), Google ($GOOGL), Amazon ($AMZN), Meta ($META), and Apple ($AAPL), could face new restrictions on how their data is accessed by government entities, potentially requiring adjustments to their data handling and disclosure policies. The bill's focus on data brokers suggests a direct impact on companies whose business models revolve around aggregating and selling personal data. Given its early stage, having only been referred to committees, the legislative timeline for HR7816 is extensive. It must pass through committee review, potentially undergo amendments, be voted on by the full House, then proceed to the Senate for a similar process, and finally be signed by the President. The presence of related bills (HR8035 and HR8322) indicates ongoing legislative interest in FISA reform, with HR8322 having already become Public Law No: 119-84, extending certain FISA authorities through April 30, 2026. This suggests that while there is momentum for FISA-related legislation, the specific reforms proposed in HR7816 are still subject to significant debate and potential modification.