Facebook CEO Zuckerberg: There is a role for regulation to play

Facebook CEO Mark Zuckerberg and Twitter CEO Jack Dorsey testify before a Senate panel. Senator Lindsey Graham of South Carolina asks if they agree on the approach for content moderation. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi

Facebook CEO Mark Zuckerberg and Twitter CEO Jack Dorsey are making their second appearance before the Senate in less than a month to defend the legal liability shield that underpins their business models.

Both CEOs plan to highlight their efforts to crack down on misinformation around the U.S. elections, according to their prepared testimony for Tuesday’s hearing before the Senate Judiciary Committee. They will also urge lawmakers to tread carefully in their efforts to reform Section 230 of the Communications Decency Act, which protects them from being held liable for their users’ posts.

The hearing, titled “Breaking the News: Censorship, Suppression, and the 2020 Election,” is expected to focus on the platforms’ role in spreading and cracking down on messages related to this year’s elections. It came about after Facebook and Twitter both took actions to reduce the spread of an unverified New York Post article claiming to contain a “smoking gun” email about President-elect Joe Biden and his son before the election. Biden has called the story a “smear” and his campaign claimed the Post “never asked the Biden campaign about the critical elements of this story,” including that President Donald Trump’s personal lawyer Rudy Giuliani supposedly acquired the documents.

Republican senators on the Judiciary Committee voted to authorize subpoenas for the two CEOs in light of their handling of the article. Democrats were not present for the meeting because they were boycotting a vote on Amy Coney Barrett’s nomination to the Supreme Court. The CEOs ultimately agreed to testify voluntarily, less than a month after they appeared before the Senate Commerce Committee to discuss similar issues alongside Google CEO Sundar Pichai.

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