John Sarbanes: “I commend Senator Gramm, who was actually chairman of the committee at the time that we brought the legislation forward.…”

“I commend Senator Gramm, who was actually chairman of the committee at the time that we brought the legislation forward. And I commend Senator Enzi and Senator Johnson. Senator Enzi and Senator Johnson, respectively, were the chairman and ranking member of the Subcommittee on International Trade and Finance of the Banking Committee in the last Congress. They carried forward their strong interest in this legislation in this Congress and have played an instrumental role in helping to shape the legislation. I thank them for their very dedicated efforts, and the efforts of their staff which contributed so much to developing a bipartisan consensus on this legislation. Also, I acknowledge the significant contributions made by Senator Bayh and by Senator Hagel, who are the chairman and ranking member of the International Trade and Finance Subcommittee in this Congress, for their contributions in moving the legislation forward this year. The legislation generally tracks the authorities provided the President under the Export Administration Act which expired in 1990. However, a significant effort was made, with the assistance of the legislative counsel's office, to provide these authorities in a more clear and straightforward manner.”