(CNN) -- The growing number of foreign websites that offer counterfeit or stolen goods continues to threaten American technology, products and jobs. Illegal counterfeiting and piracy costs the U.S. economy $100 billion and thousands of jobs every year. Congress cannot stand by and do nothing while some of America's most profitable and productive industries are under attack. Internet protest stalls online piracy bills in Congress The Stop Online Piracy Act protects consumers and innovators by targeting foreign websites that traffic in stolen or counterfeit products, everything from movies to medicine to baby food. A great deal of misinformation about the bill has been spread around the Internet. This information does a disservice to consumers, and it is being disseminated by those who have profited from working with illegal websites that steal and sell America's intellectual property.
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Illegal counterfeiting and piracy hurt the U.S. economy
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Smith: Stop Online Piracy Act designed to protect consumers, companies
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Smith: Misinformation about the bill has spread around the Internet
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He's open to constructive suggestions that will produce strong anti-piracy legislation
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