On the recordMarch 16, 2006
I rise today to introduce common sense legislation that would improve the way we review proposed purchases of American assets by foreign companies and governments. Much has already been said about the prospect of Dubai Ports World taking responsibility for some of the operations of our nation's ports. The way that the Bush Administration has handled this situation has made it very clear that the process we currently use to review the national security implications of foreign acquisitions is simply not working. We must do better. Let me be clear: I do not believe that we should automatically dismiss out of hand any potential foreign investments in this country. Vibrant trade, when conducted sensibly and fairly, is good for America. However, I think that for any proposed deal in which a foreign company would take over important responsibilities related to America's critical infrastructure--whether it be our ports, our railroads, our airports, or anything else that is fundamental to our national security--we should take a very close look at such a deal. For any proposed deal in which a foreign country would take over any of our nations' companies, we should take an even closer look. I strongly believe that we should be building our ties with friendly Arab nations, through diplomacy, trade, and all of the other mechanisms we have at our disposal.…
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