Christopher Shays: “as a cosponsor of H.R. 556, I am pleased the new majority is moving quickly to consider this legislation, which passed…”

“as a cosponsor of H.R. 556, I am pleased the new majority is moving quickly to consider this legislation, which passed the House in the last Congress by an overwhelming bipartisan vote. This legislation would require that all transactions involving foreign state-owned companies be automatically subject to a full 45-day investigation. Last year, the attempt by Dubai Ports World (DP World), a port operations company owned by the government of the United Arab Emirates (UAE), to purchase operating terminals at six U.S. ports was a clear indicator we must reform the CFIUS process. Whenever a foreign investment affects homeland security, it deserves greater scrutiny. It seems to me, this legislation strikes the proper balance between strengthening our economy and protecting the American people. Mr. Chairman, I urge my colleagues to support this legislation.”