Political Quotes

“I rise today to support S. 3549, the Foreign Investment and National Security Act of 2006, because it makes great strides in modernizing the Committee on Foreign Investment in the United States, CFIUS, process. I firmly believe that national security is paramount, and confidence must be restored in the CFIUS screening process. CFIUS creates a careful balance between national security and the economic benefits of foreign investment. As such, we must protect our national security while not inadvertently and unnecessarily hurting this job-creating investment. Over 5 million Americans work for insourcing companies with a payroll of nearly $318 billion. In my State of Pennsylvania, 227,700 people owe their jobs to a foreign-based company. Pennsylvania is a State that has worked hard to attract international companies like Mack Trucks Inc., SAP America, and Sony. That effort has yielded positive results. With regard to S. 3549, there are a few unresolved issues that were raised in the Banking Committee process that could raise barriers to beneficial foreign investment. While the bill passed the committee unanimously, with my support, it was understood that a couple of outstanding concerns would be addressed before the bill would be signed into law. At this time, these concerns remain. Two provisions in particular that could have a negative impact on positive foreign direct investment that creates jobs, fosters innovation and sustains U.S.…”