Senators Kim and Rounds Introduce Legislation to Retain America’s Competitive Edge in Quantum Technology

WASHINGTON, D.C. – Today, Senator Andy Kim (D-NJ), Ranking Member of Senate Banking, Housing, and Urban Affairs Committee's National Security Subcommittee, and Senator Mike Rounds (R-SD) introduced bipartisan legislation to further advance American quantum leadership. The legislation will expand the definition of quantum under the China and Transformational Exports Program (CTEP) to broaden the Export-Import Bank of the United States’ (EXIM) authority to support the whole of the quantum ecosystem. The more holistic definition will give EXIM the flexibility to finance critical quantum applications including quantum computing, sensing, and communications, as well as enabling technologies.

“The possibilities of quantum technologies are not abstract or theoretical – they are right in front of us, and without greater financing flexibility, we risk falling behind global competitors like China. The time to invest in these technologies and bolster American quantum leadership is now. I’m grateful for Senator Rounds’ partnership as we elevate the importance of harnessing all that quantum has to offer,” said Senator Kim.

“Quantum is a crucial piece of America’s continued technological dominance,” said Senator Rounds. “Our legislation would change the definition of quantum for export purposes, making it easier for U.S. companies to export their products abroad, creating more jobs here at home and spreading American technology to our allies and friends around the globe.”

EXIM is the official export credit agency of the United States that unlocks financing solutions for U.S. companies competing around the globe. CTEP, under EXIM, has a mandate to help U.S. exporters facing competition from the People's Republic of China (PRC).

Specifically, the Advancing American Quantum Leadership Act would amend the Export-Import Bank Act of 1945 to broaden the definition of quantum under the CTEP from “quantum computing” to “quantum information science and technology.” By expanding the definition, the bill broadens EXIM’s authority to cover quantum sensing and quantum communications, which are both projected to grow dramatically over the next 10 years, and would make sure the United States retains a competitive edge by leading on down-stream quantum infrastructure, like enabling technologies.

The more holistic approach would help align CTEP with other national policy documents on quantum, including by moving EXIM’s definition into closer alignment with the National Quantum Initiative Act and its pending reauthorization.

“Quantum spans a set of emerging technologies poised to shape both national security and economic competitiveness for decades. Expanding the CTEP program’s scope to cover quantum sensing, networking, and quantum-enabling technologies alongside computing would support critical technologies with earlier maturation timelines, strengthen the broader U.S. quantum industrial base, and help keep the United States ahead of its competitors,” said Constanza M. Vidal Bustamante, Fellow, Technology and National Security Program, Center for a New American Security.