Hon. Michael G. Oxley: “I will be brief. I do not think anybody could have predicted, certainly not me, that a few weeks after the firestorm…”

“I will be brief. I do not think anybody could have predicted, certainly not me, that a few weeks after the firestorm that came about with the announcement of the Dubai Ports deal that we would be on the floor today debating legislation that was considered by our committee and others and passed in our committee overwhelmingly with a 64-0 bipartisan vote, with cooperation on both sides of the aisle, to deal with a real problem. Even though I personally felt there was a great deal of overreaction about the Dubai Ports deal, the fact is that it revealed some very deep concerns that people like the gentleman from California had, and others, about how the CFIUS process works. We set about with great care, working with Mr. Frank, our ranking member, Mrs. Maloney and Mr. Crowley, to craft a bill under the guidance of Chairwoman Pryce and Mr. Blunt from Missouri, to craft a bill that met the balance, met the test of dealing with our very real concerns about national security and, at the same time, encouraging foreign investment into our country.…”