The U.S. Senate Committee on Banking, Housing and Urban Affairs is
holding hearings this week with the Administration and industry officials
to reauthorize the Export Administration Act.
The legislation provides the legal framework for export controls based
on national security and foreign policy. The Export Administration Act
lapsed in 1994, and its provisions have since been continued by executive
order.
The draft legislation would reauthorize the Export Administration Act
with new provisions that focus on technology transfer overseas. The Senate
also proposes stiffer penalties for violators.
"I have said that I intend to pass an Export Administration Act
re-authorization bill this year," said Senate Banking Committee Chairman
Phil Gramm, R-Texas, last week. "We’re going to be in a full-court press in
trying to make this happen."
William A. Reinsch, under secretary for the Commerce Department’s Export
Administration, criticized some aspects of the draft, such as how export license
applications would be reviewed, at Wednesday’s hearing before the committee.
These officials are scheduled to air their views of the revisions
Thursday: Robin Beard of Raytheon, Kyle Seymour of Cincinnati Machine — a UNOVA Co.,
Andrew Whisenhunt of the Arkansas Farm Bureau, Karen Murphy of Applied Materials, and
Richard Culpitt of the University of Georgia.
The Senate Banking Committee plans to mark up the draft revisions next week.
EXPORT ADMINISTRATION ACT REVISIONS GET AIRING IN U.S SENATE
EXPORT ADMINISTRATION ACT REVISIONS GET AIRING IN U.S SENATE
