Joe Barton: “I rise in support of H.R. 5337, the Reform of National Security Reviews of Foreign Direct Investment Act. I want more…”

“I rise in support of H.R. 5337, the Reform of National Security Reviews of Foreign Direct Investment Act. I want more foreign investment in America, not less, but I do not want the kind that threatens our security. CFIUS exists to make the distinction, and we need to know that it's doing a good job. We don't automatically fear foreign investors here in America. The money provided by foreign investors creates jobs, growth, and opportunity here at home. I just want to ensure the investment we attract does not jeopardize national security. H.R. 5337 provides consistent criteria with appropriate discretion and will improve the review process without impairing our ability to attract significant and needed foreign investment. Mr. Speaker, the Energy and Commerce Committee shares jurisdiction over this matter and we marked up the bill in my Committee with some changes. While the amended bill we are considering today contains some differences than the version my Committee reported, I support it. Importantly, it provides for mandatory review of foreign government- controlled transactions. Additionally, it provides clear and consistent review criteria for all other commercial investments, it adds the Secretary of Energy to the Committee, and it makes the Secretary of Commerce a co-vice chair of the Committee.…”