Political Quotes

“Mr. President, last month in the Banking Committee, we passed bipartisan legislation to give our country more tools to respond to foreign investments from countries like China that pose a threat to our national security. I appreciate the Presiding Officer's interest in this issue also. The Senate Banking bill was attached to the Defense bill in the Armed Services Committee later that week, and the House also passed a similar bill through a key committee at the same time. This is good news as we try to address threats to our national security, and I hope we can get this to the President's desk quickly. The Committee on Foreign Investment in the United States--so-called CFIUS--screens foreign investments for national security threats and blocks those that undermine our national security. But as countries like China have adopted new tactics and new techniques to acquire our critical knowledge and know-how, the laws that give CFIUS its authority haven't been able to keep up with technology; hence, the reason that Senator Cornyn and Senator Feinstein and Senator Van Hollen and Senator Crapo and I have worked on this. I want to thank them for introducing legislation last fall to expand CFIUS's authority to keep up with these new tactics. The Banking Committee bill builds on their efforts to modernize CFIUS to make sure that it has the tools it needs to tackle today's threats.…”