Jim Banks
Senator for Indiana · Republican · United States
“It is ironic with this resolution because 2 percent of Rhode Islanders over the last 5 years have moved to Florida, and they moved to Florida especially after the pandemic--all of the mandates and higher taxes, and they are choosing a State that works, that is attracting them, just like people from all over the coast are moving to Florida…”
“Mr. President, reserving the right to object, it is pretty clear that this resolution is an attack on a red State by one of my colleagues from a blue State. I respect my colleague, but this resolution doesn't pass muster.”
“Inflation rates came way down-- down as much as we have seen it in many years--because of President Trump's policies to uproot Green New Deal policies, passing the Working Families Tax Cut bill that we passed that makes life more affordable for working families all over this the country.”
“``(d) American Artificial Intelligence Victory Strategy.-- The Under Secretary of Commerce for Industry and Security, in consultation with each agency that is part of the Operating Committee for Export Policy, shall submit to the appropriate congressional committees an American Artificial Intelligence Victory Strategy that details-- ``(1)…”
“LICENSE REQUIREMENT FOR EXPORTS OF COVERED INTEGRATED CIRCUITS TO COUNTRIES OF CONCERN. Part I of the Export Control Reform Act of 2018 (50 U.S.C. 4811 et seq.) is amended by inserting after section 1758 the following: ``SEC. 1758A. CONTROL OF EXPORTS OF COVERED INTEGRATED CIRCUITS.”
“1 to part 740 of the Export Administration Regulations. ``(4) Covered integrated circuit.-- ``(A) In general.--Subject to subparagraphs (B), (C), and (D), the term `covered integrated circuit' means-- ``(i) an integrated circuit, computer, or other product-- ``(I) classified under Export Control Classification Number 3A090 or 4A090 or rel…”
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“It is ironic with this resolution because 2 percent of Rhode Islanders over the last 5 years have moved to Florida, and they moved to Florida especially after the pandemic--all of the mandates and higher taxes, and they are choosing a State that works, that is attracting them, just like people from all over the coast are moving to Florida because they like Florida, they like lower taxes, and they like the quality of life that Florida offers. This resolution is just an attack on Florida. I do invite my colleague--again, whom I respect and enjoy working with--to come to the Banking Committee. Let's work on bipartisan solutions and ideas to bring down the cost of living for all Americans. We can do that together. We can find solutions to do that. This resolution doesn't do that. Mr. President, that is why I object. The PRESIDING OFFICER.”
“Inflation rates came way down-- down as much as we have seen it in many years--because of President Trump's policies to uproot Green New Deal policies, passing the Working Families Tax Cut bill that we passed that makes life more affordable for working families all over this the country. It is pretty clear that this resolution is just a veiled attack on Florida. I am not from Florida. Florida is a good State. And I love the State of Rhode Island. I did all of my Navy training there. I respect my colleague.”
“Mr. President, reserving the right to object, it is pretty clear that this resolution is an attack on a red State by one of my colleagues from a blue State. I respect my colleague, but this resolution doesn't pass muster. In fact, we know that the radical, Green New Deal agenda that was wrought on us in this country by the Biden administration raised gas prices in this country to astronomical rates, made life less affordable and more difficult for Americans all over this country. That is why they quickly turned the page on those policies and got rid of Biden and those radical Green New Deal policies and chose President Trump to come back to the White House. We had really good news this week.”
“``(e) License Prohibition for Restricted Integrated Circuits.--The Under Secretary of Commerce for Industry and Security, in consultation with each agency that is part of the Operating Committee for Export Policy, shall deny all licenses for the export, reexport, or in-country transfer of a restricted integrated circuit to an entity that is located or headquartered in, or the ultimate parent company of which is headquartered in, a country of concern.''. ______”
“``(d) American Artificial Intelligence Victory Strategy.-- The Under Secretary of Commerce for Industry and Security, in consultation with each agency that is part of the Operating Committee for Export Policy, shall submit to the appropriate congressional committees an American Artificial Intelligence Victory Strategy that details-- ``(1) a whole-of-government framework to win the artificial intelligence race; ``(2) recommendations for policy changes the United States Government should make to best position the United States in the artificial intelligence race against the People's Republic of China; and ``(3) an assessment of the covered integrated circuit production numbers and capabilities of the People's Republic of China for fiscal years 2026 and 2027, including a comparison of the covered integrated circuit production numbers and capabilities of the People's Republic of China to the covered integrated circuit production numbers and capabilities of the United States and allies of the United States.”
“``(c) Certification to Congress.--Not fewer than 15 days prior to approving any license for the export, reexport, or in-country transfer of a covered integrated circuit to an entity that is located or headquartered in, or the ultimate parent company of which is headquartered in, a country of concern, the Under Secretary of Commerce for Industry and Security, in consultation with each agency that is part of the Operating Committee for Export Policy, shall submit to the appropriate congressional committees a copy of the license application and proposed license, including-- ``(1) the quantity of the covered integrated circuit, identified by an Export Control Classification Number, as applicable, and by [[Page S3773]] technical parameters of the covered integrated circuit; ``(2) the ultimate consignee or end-user of the covered integrated circuit; ``(3) the quantity of the covered integrated circuit that has been shipped to end-users in the United States at the time of the license application; and ``(4) any and all license conditions, which shall include a certification that-- ``(A) there is sufficient supply of the covered integrated circuit in the United States such that export of the covered integrated circuit authorized by the license would not result in any delay in fulfilling any existing or new orders of covered integrated circuits from customers in the United States for end use in the United States (taking into account normal lead times); ``(B) global foundry capacity that would otherwise be used to produce similar node or more covered integrated circuits for end users in the United States will not be diverted to produce the commodities authorized by the license for exports to the People's Republic of China; ``(C) the aggregate shipments of the covered integrated circuit to the People's Republic of China and Macau will be not more than 50 percent of the total covered integrated circuits shipped to customers for end use in the United States of that covered integrated circuit; ``(D) the transaction is not prohibited by end user, use controls, or controls for nonmilitary end uses or end users; ``(E) the license applicant will employ rigorous know your customer (KYC) procedures to screen and prevent unauthorized remote access to unauthorized parties (such as prohibited parties under part 744 of title 15, Code of Federal Regulations, or successor regulations); ``(F) prior to export from the United States, every shipment of covered integrated circuits will be reviewed by a qualified third-party testing lab to confirm the technical capabilities and functions of the artificial intelligence commodities in the license application of the exporter; and ``(G) the license application has provided the Under Secretary of Commerce for Industry and Security a list of remote end users located in Belarus, China, Cuba, Iran, Macau, North Korea, Russia, and Venezuela, or whose ultimate parent company is headquartered in any such country.”
“``(b) License Requirement.-- ``(1) In general.--Beginning on the date of the enactment of this section, the Under Secretary of Commerce for Industry and Security, in consultation with each agency that is part of the Operating Committee for Export Policy, shall require a license for the export, reexport, or in-country transfer of a covered integrated circuit or a restricted integrated circuit to an entity that is located or headquartered in, or the ultimate parent company of which is headquartered in, a country of concern. ``(2) General license prohibited.--The Under Secretary of Commerce for Industry and Security may not issue a general license for the purpose of fulfilling the license requirement in paragraph (1).”
“``(B) Authority to update technical parameters.--The Under Secretary of Commerce for Industry and Security may add or modify technical parameters for the definition of `restricted integrated circuit' in the same manner and subject to the same restrictions as the authority described in paragraph (4)(B). ``(C) Products included.--Except as provided by subparagraph (D), the term `restricted integrated circuit' includes a product containing such a restricted integrated circuit. ``(D) Exclusion.--The term `restricted integrated circuit' does not include-- ``(i) restricted integrated circuits or products containing a restricted integrated circuit that are not designed or marketed for use in a data center; or ``(ii) microprocessor microcircuits, such as central processing units, that are not graphics processing units or similar products.”
“``(6) Performance density; total processing performance.-- The terms `performance density' and `total processing performance' have the meanings given those terms in, and are calculated as provided for under, Export Control Classification Number 3A090 in the Commerce Control List (as in effect on January 1, 2026). ``(7) Restricted integrated circuit.-- ``(A) In general.--Subject to subparagraphs (B), (C), and (D), the term `restricted integrated circuit' means a covered integrated circuit that has 1 or more digital processing units with a total processing performance of 21,000 or more.”
“``(C) Products included.--Except as provided in subparagraph (D), the term `covered integrated circuit' includes a product containing such a covered integrated circuit. ``(D) Exclusion.--The term `covered integrated circuit' does not include-- ``(i) covered integrated circuits or products containing a covered integrated circuit that are not designed or marketed for use in a data center; or ``(ii) microprocessor microcircuits, such as central processing units, that are not graphics processing units or similar products. ``(5) Operating committee for export policy.--The term `Operating Committee for Export Policy' means the Operating Committee for Export Policy referred to in section 1763(c) of the Export Control Reform Act of 2018 (50 U.S.C. 4822(c)).”
“``(B) Authority to update technical parameters.--Beginning 18 months after the date of the enactment of this section, the Under Secretary of Commerce for Industry and Security may add or modify technical parameters for the definition of `covered integrated circuit' for purposes of this section through notice in the Federal Register, so long as-- ``(i) the addition or modification poses no adverse impact on the national security of the United States; and ``(ii) not fewer than 30 days before the addition or modification takes effect, the Under Secretary-- ``(I) consults with the appropriate congressional committees regarding the addition or modification; and ``(II) in consultation with each agency that is part of the Operating Committee for Export Policy, submits the addition or modification to the appropriate congressional committees.”
“1 to part 740 of the Export Administration Regulations. ``(4) Covered integrated circuit.-- ``(A) In general.--Subject to subparagraphs (B), (C), and (D), the term `covered integrated circuit' means-- ``(i) an integrated circuit, computer, or other product-- ``(I) classified under Export Control Classification Number 3A090 or 4A090 or related Export Control Classification Numbers; or ``(II) that is functionally equivalent or substantially similar to a circuit, computer, or product described in subclause (I); or ``(ii) an integrated circuit that has 1 or more digital processing units with-- ``(I) a total processing performance of 4,800 or more; ``(II) a total processing performance of 2,400 or more and a performance density of 1.6 or more; or ``(III) a total processing performance of 1,600 or more and a performance density of 3.2 or more.”
“LICENSE REQUIREMENT FOR EXPORTS OF COVERED INTEGRATED CIRCUITS TO COUNTRIES OF CONCERN. Part I of the Export Control Reform Act of 2018 (50 U.S.C. 4811 et seq.) is amended by inserting after section 1758 the following: ``SEC. 1758A. CONTROL OF EXPORTS OF COVERED INTEGRATED CIRCUITS. ``(a) Definitions.--In this section: ``(1) Appropriate congressional committees.--The term `appropriate congressional committees' means the Committee on Foreign Affairs of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate. ``(2) Commerce control list.--The term `Commerce Control List' means the list set forth in Supplement No. 1 to part 774 of the Export Administration Regulations. ``(3) Country of concern.--The term `country of concern' means any foreign country listed in Country Group D:5 under Supplement No.”
“Congressional Record, Volume 172 Issue 113 (Monday, July 13, 2026) [Congressional Record Volume 172, Number 113 (Monday, July 13, 2026)] [Senate] [Pages S3772-S3773] From the Congressional Record Online through the Government Publishing Office [ www.gpo.gov ] SA 6575. Mr. BANKS (for himself and Ms. Warren) submitted an amendment intended to be proposed by him to the bill S. 4784, to authorize appropriations for fiscal year 2027 for military activities of the Department of Defense, for military construction, and for defense activities of the Department of Energy, to prescribe military personnel strengths for such fiscal year, and for other purposes; which was ordered to lie on the table; as follows: At the end of subtitle E of title XII, add the following: SEC. 1271.”
“The Indiana State Police Alliance champions the values of integrity, superior quality, outstanding service, teamwork, mutual respect, and accountability. It is clear why Captain Krueger was chosen to lead this esteemed organization; he not only understands these values, he embodies them. On behalf of a grateful State, I thank Captain Krueger for his service and leadership. Indiana is better and safer because of his dedication. I wish you the very best in your continued career. ____________________”
“Congressional Record, Volume 171 Issue 71 (Tuesday, April 29, 2025) [Congressional Record Volume 171, Number 71 (Tuesday, April 29, 2025)] [Senate] [Page S2658] From the Congressional Record Online through the Government Publishing Office [ www.gpo.gov ] ADDITIONAL STATEMENTS ______ TRIBUTE TO CAPTAIN SCOTT KRUEGER Mr. BANKS. Mr. President, I rise today to recognize and congratulate Captain Scott Krueger on the completion of his tenure as president of the Indiana State Police Alliance. As president, Captain Krueger represented over 1,200 active Indiana State Troopers. Captain Krueger has proudly served the State of Indiana for 25 years, following in the footsteps of his father as a dedicated member of the Indiana State Police.”
“The Indiana State Police Alliance champions the values of integrity, superior quality, outstanding service, teamwork, mutual respect, and accountability. It is clear why Captain Krueger was chosen to lead this esteemed organization; he not only understands these values, he embodies them. On behalf of a grateful State, I thank Captain Krueger for his service and leadership. Indiana is better and safer because of his dedication. I wish you the very best in your continued career. ____________________”
“Congressional Record, Volume 171 Issue 71 (Tuesday, April 29, 2025) [Congressional Record Volume 171, Number 71 (Tuesday, April 29, 2025)] [Senate] [Page S2658] From the Congressional Record Online through the Government Publishing Office [ www.gpo.gov ] ADDITIONAL STATEMENTS ______ TRIBUTE TO CAPTAIN SCOTT KRUEGER Mr. BANKS. Mr. President, I rise today to recognize and congratulate Captain Scott Krueger on the completion of his tenure as president of the Indiana State Police Alliance. As president, Captain Krueger represented over 1,200 active Indiana State Troopers. Captain Krueger has proudly served the State of Indiana for 25 years, following in the footsteps of his father as a dedicated member of the Indiana State Police.”
“We are kicking off a new era of peace and prosperity like we have never seen before. Again, Indiana, thank you for this incredible opportunity. To my colleagues, it is a privilege to serve with you. I am so excited about what lies ahead. I yield the floor. (Applause.) The PRESIDING OFFICER. The Senator from Indiana.”
“It has only been 5 months since election day when I took that walk, and we have already seen a major shift for hard-working Americans. For too long, Washington has not cared about people like those boys and that mom, but I do. And I know that all of you do, and I know that President Trump does too. As leaders in this country, we have a duty to fight for those boys and those moms like her for their American dream. To my Republican colleagues and my colleagues across the aisle, we must stand together more than ever before to fight for those working families. It is going to take everyone in this Chamber working together to do it. There is so much in this fight that we can all agree on as Republicans and Democrats, and now is the time for leadership of both parties to step up for American workers and families.”
“But as we were walking down that street, I noticed a mom sitting on the steps of her trailer, smoking a cigarette, watching her two boys in the yard who would have been about the same age as my brother and I would have been when we lived in that trailer park too. As I watched them, I couldn't help but wonder if those boys would be able to achieve what I did or if the deck was so stacked against them today that that kind of opportunity for them was way out of reach. Later that evening as the results from election night poured in, it became apparent to me that America decided to turn the page to a new chapter for this great country. And as someone who has lived the American dream, I have got great news for those boys and their mom: The golden age of America is here.”
“I went on this dogwalk with Marsh, and we walked past the museum, we walked past the courthouse and the town square in my hometown. We walked past the hot dog stand that was where I had my first job as a teenager, and then we ended up in that trailer park that I mentioned earlier where I grew up. I have driven past it many times, but it was the first time that I have actually gone through alone and walked through and down this street since I was a kid. It was just a couple of hours before the news would call my race and name me the Senator-elect for the great State of Indiana, so this was rather an emotional experience for me. As memories of my childhood flooded back, I realized how incredible of a life and opportunity that I have been given.”
“That type of investment is helping to bring back the American dream for hard-working Americans. On election day this past November, I took what ended up being a long and nostalgic walk with my dog Marshall. He is named after Thomas Riley Marshall, the 28th Vice President of the United States, who is also from my small hometown. In fact, his Vice Presidential statue is right outside the west door as you enter this Chamber. In fact, on election day, we walked right past his home, which today is a museum in his honor to his history. When I was in elementary school, we would go to field trips to the museum, and the teachers would say: Look what this guy did coming from a small town like this. If you work hard and dream big, maybe you can do something like that too.”
“He is putting our attention on the issues that matter most to working Americans, like being able to afford a home, a car, groceries, education, and healthcare. He is standing up against global companies that are selling out to our enemies, and he is bringing back a country that builds and makes things. Just last month, so important to Indiana, we heard that Honda is going to build their new Honda Civic in Indiana, not in Mexico. And last week, GM said that they would increase truck production just a few miles from my hometown in Fort Wayne. Our steel mills are roaring back to life. Our tech companies are hiring in America again. And Eli Lilly, also based in Indiana, plans to invest $27 billion in American manufacturing. So far in just 10 weeks, President Trump has announced $6 trillion in new investment in the United States of America.”
“President Trump tapped into the American people's hopes in a way that few leaders before him ever have. And that is why I was so inspired in just the first couple of weeks on the job as a U.S. Senator to be in that Rotunda for President Trump's inauguration when he talked about ushering in the golden age of America. It was so encouraging and inspiring to real people in real places like my hometown. I feel like I am living through some of the best parts of our history, and I stand with President Trump in his commitment to put those working families first. He is removing the ``kick me'' sign from the backs of our workers and our producers. He is doing what the voters elected him to do, and he is keeping his campaign promises.”
“Some people believed naively that China would become freer, more open, and more like America; the complete opposite has happened. Now, they are our biggest adversary, and it is past time that we fight back. During my time in the House, I made it my mission, my biggest priority to stand up to China, and only one President in my lifetime, once again, has understood that threat. In the U.S. Senate, I intend to help and stand with President Trump to stand up to China and put America first. When President Trump first came down that escalator over 10 years ago, my dad, a retired union factory worker, was for him from day one. I wasn't so sure about it, but my dad knew that [[Page S2499]] Donald Trump was going to fight for the working class, and, boy, was he right.”
“Too many of our leaders have been playing footsie with China instead of pushing back and standing up for our workers. In 2001, our trade deficit with China was $84 billion. By 2024, that deficit more than tripled to $295 billion. Nearly 25 years ago, China accounted for 8 percent of the world's manufacturing output, but by 2020, that number has gone up by 35 percent. The Chinese Communist Party wants to make the United States irrelevant in every key industry: steel, aluminum, nuclear power, AI, semiconductors, telecom, planes, ships, cars, and many more. They are making us weaker and dependent. And here is the worst part about it: the CCP conned American investors into footing the bill. They rolled out the red carpet to corporate America, and Wall Street poured nearly $1 trillion into Chinese companies that destroyed American jobs.”
“In fact, he kept pointing back to the Oval Office and saying that we are in the position that we are today because many of the men who sat in that office behind him did nothing while foreign countries took advantage of us and our workers. President Trump understands, like we all do, that we can't pass the American dream on to the next generation if we let China dominate us. In fact, he is the first President of my lifetime to call China a threat to the American way of life. That is why I believe that letting China into the World Trade Organization was the worst economic mistake of my lifetime. For too long, they have stolen our technology, they have copied our products, and they have built up their industries with slave wages that American workers can't and shouldn't have to compete with. No one has held them accountable until now.”
“But we have lost way too many of those kinds of jobs around the country to China and foreign countries that have taken advantage of us and our workers. It was great to see leaders from that steel mill-- Steel Dynamics--in the Rose Garden last week when I had a front row seat to celebrate President Trump's tariffs announcement, which will massively help our steel industry in places like Columbia City, IN. For too long, our leaders have turned a blind eye when our enemies like China took those good-paying skilled jobs away from us. One of the really memorable moments from the Rose Garden, last week, of President Trump for me was when he said that it is hard to fully blame foreign countries when it was the lack of leadership on our own part that allowed those countries to take advantage of America.”
“Foreign companies have used their low wages and subsidies to dump cheap steel and take over our market, while American steel companies have struggled to keep up. Today, America produces 1 percent of all of the cargo ships in the world. But in 1980, we made over 50 percent of them. It costs over double to build a ship in the United States than it does in China and South Korea, and they heavily subsidize their shipbuilding industries. You see, in Columbia City, my small hometown, the best paying jobs are at a local steel mill called Steel Dynamics. A lot of guys I went to high school with, a lot of friends of our family work there today, and they do really well and provide for their families.”
“About 600,000 jobs went to Mexico over two decades since NAFTA. In the 1980s, it took about 40 weeks of work for a factory worker to earn enough to support their family. Today, it takes about 62 weeks, which means those working-class families are growing debt and falling further and further behind. For too long, empty lots, boarded-up buildings, and dead store fronts could be seen all over America because of the choices that our Nation's elites made. It was a tremendous failure of leadership. They opened up our borders, they cut wages for workers, and, as a result, cheap labor flooded into our country. Indiana is also the top steel-producing State in the country, but the steel industry has shrunk by two-thirds. In 1980, the United States made one-sixth of the world's steel. Now that has dropped to one- twentieth.”
“You see, it is clear: It is the result of bad policy choices that put corporate and foreign interests ahead of those workers like my dad. Decades of America-last policies have hollowed out our industries and crushed our workers. Wall Street shipped factories overseas and stripped our companies for quick profits. For a State like Indiana, the top manufacturing State in the country, that is a huge blow. We have lost 6 million manufacturing jobs since 1980, while our population grew by over 117 million people. Like President Trump said last week, we have also lost more than 90,000 factories since NAFTA was signed. Adjusting for the value of the dollar, working-class wages for men haven't gone up at all. They earned about $850 a week in 1980, and they still earn about $850 a week today.”
“I served my country in the U.S. House of Representatives and now here in this historic Chamber, the U.S. Senate. My oldest daughter Lillian is in the Gallery with us today. And just like my parents, I want my three daughters to be better off than what I was. That is the American dream. This really is the greatest country in the history of the world. That American dream is always worth fighting and protecting. But sadly, the country has changed a lot from when I was a kid growing up in that small town. There used to be plenty of those good- paying factory jobs like the one that my dad had, with pay that kept up with the cost of living and companies that treated their workers right. It is no accident that a lot of those jobs have disappeared, and the working class is falling further and further behind.”
“Those were exactly the kinds of jobs that allowed my parents to put food on their table and raise their boys. To so many Americans like my parents, the American dream isn't just some concept that think tank experts in Washington, DC, write about. It is real. It is what they have lived in their lives, like my mom and dad did, because to my mom and dad, the American dream is, if you work hard, then perhaps your kids might have a better shot than what you did. I want to take a moment, like the Good Book says to do, and I want to honor my mom and my dad. It is because of them that I have lived the American dream. Look at where I am today: on the floor of the U.S. Senate, from humble beginnings in a small town in Northeast Indiana, the first of my family to go to college, and the great honor of wearing the uniform and serving my country.”
“They didn't go to college. They had me at a young age. My mom started working when she was 13 years old at a local nursing home called Miller's Merry Manor, and she only recently retired from working there for most of her life. My dad worked at a local Dane factory, where they made axles for cars and other vehicles. My uncle, my grandpa, many relatives, and many friends of our family also worked in that same factory. In fact, it was my grandpa, my mom's dad, who got my dad his job there when he started dating my mom. When I was growing up, that factory provided good pay and opportunities for so many families in my community. During all three shifts, 24/7, the parking lot would be overflowing as workers earned a wage that was good enough to support their families. That was our American dream.”
“So they hear me say that a lot, and they get annoyed every time I say it. But I have a lot of great memories growing up in that trailer park. I remember my dad teaching me how to ride a bicycle in the cul-de-sac at the end of the street. I remember his cream-colored Ford Bronco. The top would come off. He would wax it on the street and drive it around town. He was so proud of it. I remember the bunkbed at the front of the trailer that I shared with my brother Chad. I remember the swing set in the side yard. [[Page S2498]] I remember deer hunting season. My dad would bring the buck home that he was proud of. We would can the meat, and we would live off it for the winter. You see, my parents didn't have much, but they worked hard, and they provided for my two younger brothers and me. My mom and dad were high school sweethearts.”
“Mr. President, it is the honor of my life to be here representing Indiana in the U.S. Senate. I want to start out thanking Hoosiers for sending me here to serve them, my State, and my country. It is an incredible honor. It is humbling and thrilling, truly, speaking on the floor of the U.S. Senate for the very first time. You know, I grew up in a trailer park in Columbia City, IN, a small town of less than 10,000 people. I still live there today with my wife Amanda and our three young daughters, and, really, it is the best hometown in America. But when I was a kid, we lived on the very south end of town, on a dead-end street with about a dozen trailers. I often drive by that boyhood home, and I point it out to my daughters, and I say: That is where I came from. Unfortunately for them, it is on the way to school.”