[Congressional Record (Bound Edition), Volume 162 (2016), Part 4]
[Senate]
[Pages 5179-5180]
[From the U.S. Government Publishing Office, www.gpo.gov]




    RECOGNIZING THE IMPORTANCE OF THE UNITED STATES-ISRAEL ECONOMIC 
         RELATIONSHIP AND ENCOURAGING NEW AREAS OF COOPERATION

  Mr. McCONNELL. Mr. President, I ask unanimous consent that the Senate 
proceed to the immediate consideration of Calendar No. 400, S. Res. 
383.
  The PRESIDING OFFICER. The clerk will report the resolution by title.
  The senior assistant legislative clerk read as follows:

       A resolution (S. Res. 383) recognizing the importance of 
     the United States-Israel economic relationship and 
     encouraging new areas of cooperation.

  There being no objection, the Senate proceeded to consider the 
resolution.
  Mr. McCONNELL. I ask unanimous consent that the Perdue amendment to 
the resolution be agreed to; the resolution, as amended, be agreed to; 
the

[[Page 5180]]

Perdue amendment to the preamble be agreed to; the preamble, as 
amended, be agreed to; and the motions to reconsider be considered made 
and laid upon the table.
  The PRESIDING OFFICER. Without objection, it is so ordered.
  The amendment (No. 3882) was agreed to, as follows:

    (Purpose: To foster investment and private sector market entry)

       On page 6, line 12, insert ``and investment, and remove 
     barriers to, and to provide incentives for, private sector 
     market entry'' before ``; and''.

  The resolution (S. Res. 383), as amended, was agreed to.
  The amendment (No. 3883) was agreed to, as follows:

                    (Purpose: To amend the preamble)

       Strike the preamble and insert the following:
       Whereas the deep bond between the United States and Israel 
     is exemplified by its many facets, including the robust 
     economic and commercial relationship;
       Whereas, on April 22, 2015, the United States celebrated 
     the 30th anniversary of its free trade agreement with Israel, 
     which was the first free trade agreement entered into by the 
     United States;
       Whereas the United States-Israel Free Trade Agreement 
     established the Joint Committee to facilitate the agreement 
     and collaborate on efforts to increase bilateral cooperation 
     and investment;
       Whereas, since the signing of this agreement, two-way trade 
     has multiplied tenfold to over $40,000,000,000 annually;
       Whereas Israel is the third largest importer of United 
     States goods in the Middle East and North Africa (MENA) 
     region after Saudi Arabia and the United Arab Emirates, 
     despite representing only 2 percent of the region's 
     population;
       Whereas nearly half of all investment in the United States 
     from the MENA region comes from Israel;
       Whereas Israel has more companies listed on the NASDAQ 
     Stock Exchange than any other country except for the United 
     States and China;
       Whereas, in 1956, the United States-Israel Education 
     Foundation was established to administer the Fulbright 
     Program in Israel, and has facilitated the exchange of nearly 
     3,300 students between the United States and Israel since its 
     inception;
       Whereas the United States-Israel Innovation Index (USI3), 
     which was developed by USISTF to track and benchmark 
     innovation relationships, ranks the United States-Israel 
     innovation relationship as top-tier;
       Whereas, since 2011, the United States Department of Energy 
     and the Israeli Ministry of National Infrastructures, Energy 
     and Water Resources have led an annual United States-Israel 
     Energy Meeting with participants across government agencies 
     to facilitate bilateral cooperation in that sector;
       Whereas, in 2012, Congress passed and President Barack 
     Obama signed into law the United States-Israel Enhanced 
     Security Cooperation Act of 2012 (Public Law 112-150), which 
     set United States policy to expand bilateral cooperation 
     across the spectrum of civilian sectors, including high 
     technology, agriculture, medicine, health, pharmaceuticals, 
     and energy;
       Whereas, in 2013, President Obama said in reference to 
     Israel's contribution to the global economy, ``That 
     innovation is just as important to the relationship between 
     the United States and Israel as our security cooperation.'';
       Whereas, in 2014, Secretary of the Treasury Jacob Lew said, 
     ``As one of the most technologically-advanced and innovative 
     economies in the world, Israel is an important economic 
     partner to the United States.'';
       Whereas the 2014 Global Venture Capital Confidence Survey 
     ranked the United States and Israel as the two countries with 
     the highest levels of investor confidence in the world;
       Whereas, in 2014, Congress passed and President Obama 
     signed into law the United States-Israel Strategic 
     Partnership Act of 2014 (Public Law 113-296), which deepened 
     cooperation on energy, water, agriculture, trade, and 
     defense, and expressed the sense of Congress that Israel is a 
     major strategic partner of the United States; and
       Whereas economic cooperation between the United States and 
     Israel has also thrived at the State and local levels through 
     both formal agreements and bilateral organizations in over 30 
     States that have encouraged new forms of cooperation in 
     fields such as water conservation, cybersecurity, and 
     alternative energy and farming technologies: Now, therefore, 
     be it

  The preamble, as amended, was agreed to.
  The resolution, as amended, with its preamble, as amended, reads as 
follows:

                              S. Res. 383

       Whereas the deep bond between the United States and Israel 
     is exemplified by its many facets, including the robust 
     economic and commercial relationship;
       Whereas, on April 22, 2015, the United States celebrated 
     the 30th anniversary of its free trade agreement with Israel, 
     which was the first free trade agreement entered into by the 
     United States;
       Whereas the United States-Israel Free Trade Agreement 
     established the Joint Committee to facilitate the agreement 
     and collaborate on efforts to increase bilateral cooperation 
     and investment;
       Whereas since the signing of this agreement, two-way trade 
     has multiplied tenfold to over $40,000,000,000 annually;
       Whereas Israel is the third largest importer of United 
     States goods in the Middle East and North Africa (MENA) 
     region after Saudi Arabia and the United Arab Emirates, 
     despite representing only 2 percent of the region's 
     population;
       Whereas nearly half of all investment in the United States 
     from the MENA region comes from Israel;
       Whereas Israel has more companies listed on the NASDAQ 
     Stock Exchange than any other country except for the United 
     States and China;
       Whereas, in 1956, the United States-Israel Education 
     Foundation was established to administer the Fulbright 
     Program in Israel, and has facilitated the exchange of nearly 
     3,300 students between the United States and Israel since its 
     inception;
       Whereas the United States-Israel Innovation Index (USI3), 
     which was developed by USISTF to track and benchmark 
     innovation relationships, ranks the United States-Israel 
     innovation relationship as top-tier;
       Whereas, since 2011, the United States Department of Energy 
     and the Israeli Ministry of National Infrastructures, Energy 
     and Water Resources have led an annual United States-Israel 
     Energy Meeting with participants across government agencies 
     to facilitate bilateral cooperation in that sector;
       Whereas, in 2012, Congress passed and President Barack 
     Obama signed into law the United States-Israel Enhanced 
     Security Cooperation Act of 2012 (Public Law 112-150), which 
     set United States policy to expand bilateral cooperation 
     across the spectrum of civilian sectors, including high 
     technology, agriculture, medicine, health, pharmaceuticals, 
     and energy;
       Whereas, in 2013, President Obama said in reference to 
     Israel's contribution to the global economy, ``That 
     innovation is just as important to the relationship between 
     the United States and Israel as our security cooperation.'';
       Whereas, in 2014, Secretary of the Treasury Jacob Lew said, 
     ``As one of the most technologically-advanced and innovative 
     economies in the world, Israel is an important economic 
     partner to the United States.'';
       Whereas the 2014 Global Venture Capital Confidence Survey 
     ranked the United States and Israel as the two countries with 
     the highest levels of investor confidence in the world;
       Whereas, in 2014, Congress passed and President Obama 
     signed into law the United States-Israel Strategic 
     Partnership Act of 2014 (Public Law 113-296), which deepened 
     cooperation on energy, water, agriculture, trade, and 
     defense, and expressed the sense of Congress that Israel is a 
     major strategic partner of the United States; and
       Whereas economic cooperation between the United States and 
     Israel has also thrived at the State and local levels through 
     both formal agreements and bilateral organizations in over 30 
     States that have encouraged new forms of cooperation in 
     fields such as water conservation, cybersecurity, and 
     alternative energy and farming technologies: Now, therefore, 
     be it
       Resolved, That the Senate--
       (1) affirms that the United States-Israel economic 
     partnership has achieved great tangible and intangible 
     benefits to both countries and is a foundational component of 
     the strong alliance;
       (2) recognizes that science and technology innovation 
     present promising new frontiers for United States-Israel 
     economic cooperation, particularly in light of widespread 
     drought, cybersecurity attacks, and other major challenges 
     impacting the United States;
       (3) encourages the President to regularize and expand 
     existing forums of economic dialogue with Israel and foster 
     both public and private sector participation and investment, 
     and remove barriers to, and to provide incentives for, 
     private sector market entry; and
       (4) expresses support for the President to explore new 
     agreements with Israel, including in the fields of energy, 
     water, agriculture, medicine, neurotechnology, and 
     cybersecurity.

                          ____________________