WASHINGTON – Today on the floor, U.S. Senator John Cornyn (R-TX) underscored the importance of Congress passing legislation to prohibit investments by American entities in sensitive technologies in China, a priority he has long championed, in order to bolster America’s national security. Excerpts of Sen. Cornyn’s remarks are below, and video can be found here.

“At this very moment, American investors—some of these are businesses, some of these are individuals—the investments they’re making are fueling China’s military buildup and modernization by funneling capital into, potentially, dual-use technology and military capabilities that could eventually be used against the United States and our allies.”

“How can we expect to outcompete or even catch up to Chinese companies if, unbeknownst to us, American dollars are continuing to fuel their rise economically and militarily?”

“We’re simply not being serious about confronting our greatest strategic adversary if we continue to be blind to the investment of billions of dollars and the very technologies that could be potentially used to kill American Soldiers, Sailors, Airmen, and Marines.”

“There are reasons for optimism that this year will be the time we get these provisions over the finish line, and we’ve worked hard to work with the House’s version and to work with the Senate version that passed overwhelmingly previously to make sure we marry those up and we establish a bill that enjoys bipartisan and bicameral support.”

“I’ve been working with everyone from the Speaker of the House to the Chairman of the Select Committee on the CCP, John Moolenaar, to Congressman McCaul, as well as Tim Scott, Chairman of the Banking Committee here in the Senate, and we’ve all made input into a piece of legislation that will finally accomplish what we’ve been working on for these last few years.”

“It will be a home run for all Americans, who can feel safe that American companies and investors are not helping China not only rebuild its economy, but also its military as well.”

“The only party that stands to lose from this legislation will be the Chinese Communist Party, and it’s high time that they be held accountable.”