Senate Hearing on Export Control Reform Implementation
January 1, 2020
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The Frame
The hearing provides oversight on how the federal government restricts the export of and screens foreign investments, which directly impacts U.S. companies' ability to trade internationally and the regulatory environment for foreign capital.
Potentially affected actors named in the source documents. Mention is not a position.
U.S. Technology Companies
These companies are subject to updated export controls and investment screening processes when dealing with foreign entities.
Bureau of Industry and Security
The agency is tasked with implementing and enforcing the updated export control regulations mandated by ECRA.
Last recorded activity January 1, 2020.
Next step not available in the current record.
Summary
Key Facts
- The hearing was held on July 18, 2019, by the Senate Committee on Banking, Housing, and Urban Affairs.
- The Export Control Reform Act (ECRA) reauthorized the Export Administration Act, which previously relied on annual presidential declarations.
- ECRA authorizes the Bureau of Industry and Security (BIS) to update controls on dual-use technologies and military items.
- The Foreign Investment Review Modernization Act (FIRRMA) was signed into law in August 2018 to regulate inbound foreign investments.
- The U.S.-China Commission estimates that approximately half of U.S. GDP and two-thirds of productivity gains are linked to technological improvements.
- The committee previously held a related hearing on June 4, 2019, titled 'Confronting Threats from China'.
- Witnesses included former officials from the Department of Commerce and the Department of Treasury, as well as academic experts.
Frequently Asked Questions
What is the purpose of the Export Control Reform Act (ECRA)?
What does FIRRMA do?
Why It Matters
The hearing provides oversight on how the federal government restricts the export of and screens foreign investments, which directly impacts U.S. companies' ability to trade internationally and the regulatory environment for foreign capital.
News Coverage
Sponsors
Discoveries
Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.
Transition from Temporary to Permanent Authority
ECRA moved export control authority from a system dependent on annual presidential declarations to a more permanent legislative framework.
Connected Entities
Sources
www.govinfo.gov
Analysis Score
0–100- Significance75How much this matters to a regular citizen
- Controversy30Intensity of disagreement among stakeholders
- Entertainment10Compellingness for a non-policy-wonk reader
- Buzz20Current news / social attention level
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