Senate Banking Committee Chairman Johnson gives statement on DPA

Senate Banking Committee Chairman Tim Johnson (D-S.D.) released a statement on Tuesday at a meeting on the Defense Production Act.

"The DPA was originally passed in 1950 in the aftermath of World War Two and in the midst of the Korean War," Johnson said. "The legislation gave the President authorities to ensure the timely delivery of necessary supplies and equipment for the armed services and promote domestic industrial production. Over time, the purpose of the DPA has evolved as the economy has globalized and the threats to national security have shifted."

Johnson went on to say that although the world has changed since the DPA was first passed, it is still important to America's armed forces. He said the DPA also gives tools that help the government respond to natural disasters and acts of terrorism.

"This morning we will hear from the Department of Defense, Department of Commerce, as well as the Federal Emergency Management Agency," Johnson said. "Each of these agencies plays a critical role in the implementation of the DPA. I look forward to hearing our witnesses' views on the effectiveness and the need for reauthorization of the DPA, as well as areas where the Administration believes legislative changes might be appropriate to improve the law and better protect our national security."

Johnson finished his statement by expressing hope that if the DPA is reauthorized, it will be done so by unanimous, bipartisan support from the Senate, and said that he looks forward to working with his colleagues to reauthorize the DPA.