Richard Shelby: “I objected to the motion earlier to proceed to the Export Administration Act. I want to share some of my concerns in why…”

“I objected to the motion earlier to proceed to the Export Administration Act. I want to share some of my concerns in why I did that. I, too, serve on the Banking Committee. I have been on it 15 years. I worked with Senator Gramm, Senator Sarbanes, Senator Enzi, and Senator Johnson. It is a great committee. It is the committee of jurisdiction for this legislation. I also happen to be chairman of the Select Committee on Intelligence. And this is why I am concerned about this piece of legislation today. Yesterday, we in the Intelligence Committee spent 2 hours being briefed on the damage of our national security from China's seizure of sensitive technologies aboard our EP-3 reconnaissance plane, which remains, as of this hour, in Chinese custody. Chinese technicians are picking that plane apart, and I do not believe they are looking for loose change under the seat cushions. Yet today, right now, we are talking about moving to debate a bill that will make it easier for the Chinese, and others, to get technology like that aboard the EP-3 and other advanced technologies without any licensing or export restrictions. I ask my colleagues: What is wrong with this picture? I am sure the Chinese leadership can't believe its luck. The U.S.…”