Sean Patrick Maloney: “I join Chairman Frank and my colleague from New York in stressing that the CFIUS process is first and foremost for…”

“I join Chairman Frank and my colleague from New York in stressing that the CFIUS process is first and foremost for national security, and to give clear guidelines and predictability to foreign businesses to invest in America. The CFIUS process is supported, if the gentleman is concerned about jobs and the private sector, this is supported almost unanimously by the business sector of our country. They have come out, a whole list of groups, supporting this well-balanced legislation and have called upon it not to be dressed up like a Christmas tree. Foreign investment is very important to our country. It provides 5.1 million American jobs, $1.9 trillion in equity investment; and some 50,000 jobs in New York City are created at this point by foreign investment. But not one of these jobs or dollars is worth risking our national security. That is why we have CFIUS. We do not want to risk our national security for any job, and we have a template, we have a procedure placed in the CFIUS process for direct, safe foreign investment.”