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Mr. REID. Mr. President, this morning I want to talk about export controls. We all brag and are enthused about what is going on in the high-tech industry in America. There are stories we can tell of friends who have made huge amounts of money in the new economy.
It is truly unbelievable and remarkable what we can do today. This little thing I carry in my pocket has all my addresses and phone numbers. It has in it a dictionary. It has in it a calculator. It has in it the Old and New Testaments. It is unbelievable what is in this little, tiny thing I carry around in my pocket. With the flick of my hand, I can get anything I want out of this.
While we are talking a good game in Washington, we are not doing a good job to support this strong economy and to make sure the high-tech industry is allowed to continue.
We need to pass the Export Administration Act. We have not passed it. As a result--and it will happen if we do not pass a law--this industry is going to go someplace else with the jobs. The Bureau of Export Administration and the Defense Department are still conducting their business as if we were in the cold war. The cold war is over, and we have to really understand the economic and political world has changed dramatically.
Last year, Senators GRAMM, ENZI, and JOHNSON, together with the leader, Senator LOTT, agreed to move forward the Export Administration Act before the end of 1999. Each one of those Senators has lived up to what they said they would do. They have tried to move the bill forward. The chairman of the Banking Committee, Senator GRAMM, has worked very hard to move this legislation forward. Senators ENZI and JOHNSON have worked hard. The
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Frankly, the majority is unable to join together to allow us to move this bill forward. It was on the floor for an hour or so 2 weeks ago. I repeat, it is not for lack of trying by Senators GRAMM, ENZI, and JOHNSON. They all worked in good faith and have tried to accommodate everyone.
When the bill passed out of the Banking Committee, it had the full support of the committee, while still protecting our national security. I am afraid, due to the serious disagreements within the majority, this bill will not come to the floor anytime soon. That is really too bad.
I have the greatest respect and admiration for the ability of Senator GRAMM of Texas to legislate. He has done many things from the time he was in the House to his time in the Senate. I hope he can use some of the experience and wisdom he has to move this forward. The majority must move this bill. I do not believe we are living up to what is necessary for this burgeoning economy if we do not move this legislation.
A couple days ago, I met with members of the high-tech industry. They voiced concerns about the need to update our export policies. They said it was one of their two or three top concerns and, frankly, a few Members of the majority are stopping our Nation's progress in this area.
As with many issues, I often hear Congress will best serve the public and industry by doing nothing at all. That is simply not true. This is one of the areas in which we can be of great help to the high-tech community, in export controls. It is essential. There are currently a number of U.S. products that cannot compete with our foreign competitors due to export control limitations, not because of national security interests but because of the slow review process in Congress. We are trying to change that. That is what I am talking about.
In June of 1999 and January of this year, with the urging of the minority leader, Senator DASCHLE, myself, and others, the administration agreed to ease the level of controls which are referred to as MTOPS--million theoretical operations per second. MTOPS. We, as well as those in the computer industry, were elated by the news.
However, as it stands now, there is a 6-month congressional review period for raising the level of MTOPS. The Banking Committee bill reduces the time from 180 days to 60 days. This is a step in the right direction. But I, along with Senator BENNETT of Utah, Senator DASCHLE, Senator KERRY of Massachusetts, Senator MURRAY, Senator BINGAMAN, Senator KENNEDY, and Senator BOXER, believe a further reduction is necessary; that is, to 30 days. There is an amendment pending, if this bill ever comes back up, to change it to 30 days. I am confident it will be adopted overwhelmingly.
The reality of the situation is, by limiting American companies to this degree, we are not only losing short-term market share but we are allowing foreign companies to make more money and, in turn, create better products in the future, to which we will never catch up.
This could lead to the eventual loss of our Nation's lead, and it is an absolute lead in computer technology, which has propelled the United States to the good economic standing we are experiencing today. The issue of updating our export controls is critical to our Nation's economy and the success of our high-tech industry.
I urge the majority to move this bill forward, to allow the amendment process, and let's get on with it. The cold war is over. People must understand the cold war is over. If American companies can make more money overseas, they will simply invest more money into research and development there, and that is wrong.
I extend my appreciation to my friend from Colorado for allowing me to proceed.
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