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Washington, D.C.– House Foreign Affairs Committee Chairman Michael McCaul (R-TX) and Senate Banking, Housing, & Urban Affairs Subcommittee on National Security and International Trade and Finance Ranking Member Bill Hagerty (R-TN) issued the following statement on news that U.S. technology was found in the recent Chinese Communist Party (CCP) spy balloon that violated American sovereignty and traversed the United States for eight days.

“This news heightens our concerns from the start that the CCP uses U.S. technology in its intelligence and military activities, including in the surveillance balloon. This incident has not been closed, and we look forward to viewing the full technology analysis of the surveillance balloon. Competitive actions, like export controls, must move forward to stand up to Communist China.”