Director of NTU’s Free Trade Initiative Bryan Riley testified before the Senate Finance Committee on Tuesday, September 24, on the subject of federal contracting and U.S. national security. In a statement for the record, Riley argued that the federal government can promote U.S. economic and national security by procuring goods and services from firms that are able to provide the best value for taxpayers’ dollars.
At the hearing, Riley said:
NTU supports legitimate measures to protect U.S. national security. However, history shows that unless they are carefully crafted, such measures can be abused to unduly restrict the economic freedoms that have helped make our country great. For example, the United States restricts imports of steel and aluminum produced by friendly countries including Israel and the UK based on far-fetched national security grounds. Such restrictions weaken our security more than they strengthen it.
Proposed legislation would restrict the ability of firms that have contracts with China to contract with the U.S. government. In fact, one of the strongest U.S. links to China is federal debt owed to China, which amounts to $776.5 billion in Treasury securities.
The federal government already has gone too far in micromanaging private companies and this new legislation could represent a slippery slope leading to further restrictions. More laws and regulations could especially burden small businesses.
Riley thanked Chairman Gary Peters (D-MI) for highlighting the importance of protecting taxpayer interests and Ranking Member Rand Paul (R-KY) for pointing out the cost of Buy American laws.
Riley concluded by arguing that “the federal government can promote our economic and national security interests by prioritizing the procurement of goods and services based on which firms are able to provide the best value for taxpayers’ dollars.”
If you’d like to discuss federal contracting and U.S. national security with NTU’s Bryan Riley, please contact NTU Marketing Director Courtney Manley at courtney.manley@ntu.org.
Photo credit: Chris Kleponis, Freelance Photographer, https://www.kleponis.com/