Washington, D.C. A bipartisan group of senators unveiled a new bill on Wednesday designed to give the President additional power to prevent Chinese companies from investing in the United States. The bill, sponsored by several freshman senators who represent states that were closely contested in the 2024 elections, focuses on strengthening the Committee on Foreign Investment in the United States (CFIUS). CFIUS is a government body that reviews foreign investments for potential national security risks.
The proposed legislation would expand the scope of CFIUS's review process, giving it the authority to scrutinize a wider range of transactions involving Chinese firms. It would also provide clearer guidelines for determining when an investment poses a threat to national security. Proponents of the bill argue that it is necessary to address China's increasing economic influence and protect sensitive technologies and industries.
"This bill is about ensuring a level playing field and safeguarding our national security," said Senator [Senator's Name], a lead sponsor of the bill. "We need to be vigilant about protecting our critical infrastructure and technologies from foreign adversaries." Critics of similar measures have cautioned against overly broad restrictions on foreign investment, arguing that they could harm economic growth and innovation. However, the bipartisan support for this bill suggests a growing consensus in Congress that stronger measures are needed to address perceived threats from China.
Senators Propose Bill to Curb Chinese Investment in US
A bipartisan group of senators has introduced a bill aimed at strengthening the U.S. government's ability to block investments from Chinese companies. The proposed legislation would grant the President greater authority to review and potentially prevent transactions deemed a national security risk. Supporters of the bill argue it is crucial for protecting American interests amid growing economic competition. The bill reflects concerns about China's increasing influence in key sectors.
Source: Read the original article at NBC