Mr. Chairman, I would like to thank you for holding this hearing on S. 994, the Iran-Libya sanctions act reauthorization.
I would also like to thank all of our witnesses for coming before the committee to testify.
I am proud to be a cosponsor of this legislation. It is important that we enact this legislation and not let it expire.
I believe that we must show leadership to the rest of the world in how we treat rogue states who do not behave like they want to be a part of the community of nations.
I realize that not every nation believes in sanctions like we do.
And, I also realize other nations' businesses gain an advantage over our businesses because of sanctions. However, I do not believe the answer is to throw up our hands and do business as usual with any nation, regardless of their human rights record, promotion of terrorism or record of proliferation of weapons of mass destruction.
The answer is to encourage our friends and allies not to do business with these nations, even if it means setting a lonely example.
The argument that "other countries sell to them, why don't we" does not hold a lot of water with me. Sometimes, it is more important to stand on principle than to show a higher profit margin. America must remain the shining city on a hill, whether the rest of the world likes it or not.
I understand the Administration would rather have a two-year reauthorization. I will listen to their reasoning intently, but I do believe the burden of proof is on the Administration to prove, to me at least, why I should not support a 5-year extension.
I would like to commend my colleagues for their hard work on this bill. I look forward to hearing the testimony of all of our witnesses.
Thank you Mr. Chairman.