Maxine Waters: “I rise in strong support of, H.R. 5337, the Reform of National Security Reviews of Foreign Investments bill. First, I…”

“I rise in strong support of, H.R. 5337, the Reform of National Security Reviews of Foreign Investments bill. First, I want to once again acknowledge the work of the distinguished gentleman, Mr. Oxley, Chairman of the Committee on Financial Services for supporting this bill, and Ranking Member Frank for recognizing the importance of this issue. Let me congratulate Chairwoman Pryce, of the Subcommittee on Domestic and International Monetary Policy, Trade and Technology, for working to move this legislation through the Committee and onto the Floor. The bill we consider today represents a comprehensive set of reforms to the Committee on Foreign Investment in the United States' (CFIUS) procedures. It is a testament to the diligence of the Subcommittee Chair and its Members that there is strong bi-partisan support for H.R. 5337, also sponsored by the Subcommittee Ranking Member Ms. Maloney, Mr. Crowley and Mr. Blunt. It has been more than 4 months since we were made aware of the Committee of Foreign Investment's (CFIUS) activities related to Dubai World Ports and the implications of the proposed deal for national security. I can genuinely say that the Members of the Committee on Financial Services have been deeply involved in this issue since the deal was analyzed by Congress. H.R. 5337 is designed to reform the CFIUS process based on the information gleaned from hearings on the subject.…”