Summary
Tells the government to study how to attract more investment from trusted foreign companies to create jobs and grow the U.S. economy.
What problem does this solve?
The U.S. may be losing its edge in attracting investment from other countries, which can slow down job creation and economic growth. This bill orders a full review to find ways to make the U.S. the top choice for foreign companies to invest their money and build their businesses.
Who does this affect?
- U.S. businesses
- Foreign investors
- Federal trade and commerce agencies
What does this bill do?
Requires a review of U.S. competitiveness
Directs the Secretary of Commerce to lead a government-wide study on how well the U.S. attracts investment from foreign companies based in trusted countries.
Focuses on threats from China
Mandates the review to specifically look at the challenges and security risks posed by investments from companies owned or influenced by the Chinese Communist Party.
Requires a report to congress
Requires the Secretary of Commerce to submit a report to Congress within one year, detailing the review's findings and suggesting ways to attract more foreign investment.
Gathers public input
Ensures the public has a chance to comment on what the review should cover and on the proposed findings before the final report is sent to Congress.
Excludes certain investment reviews
Specifies that the review will not address laws or policies related to the Committee on Foreign Investment in the United States (CFIUS).
What is the real world impact?
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Counters economic influence from China
Aims to strengthen the U.S. economy against competition from China by encouraging investment from 'trusted countries' and investigating threats posed by entities linked to the Chinese Communist Party.
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Removes barriers to foreign investment
Seeks to identify and eliminate unnecessary rules that might stop friendly foreign companies from investing in the U.S., promoting a more open and business-friendly environment for allies.
When does this start?
This bill sets a one-year deadline for a report to be completed after it becomes law.
Report to congress
A report on the findings of the review must be submitted to Congress no later than one year after the bill is enacted.