WASHINGTON — The Coalition for a Prosperous America (CPA) today applauded bipartisan legislation introduced by U.S. Senators Mike Rounds (R-S.D.) and Jon Tester (D-Mont.) that would blacklist China, Russia, Iran and North Korea from investing in, purchasing or otherwise acquiring land or businesses involved in agriculture. China prohibits any foreign purchase of its domestic farm land, and restrictions on buying farm land are common throughout the world, including a lot of Europe.
“We applaud Senators Rounds and Tester for introducing this bipartisan legislation to ensure that China and other foreign adversaries are banned from purchasing American farmland and agricultural businesses,” said CPA Chairman Zach Mottl. “Protecting our nation’s farmland is a national security issue, and we urge Congress to swiftly pass this legislation.”
The Promoting Agriculture Safeguards and Security (PASS) Act of 2023:
- Prohibits China, Russia, Iran and North Korea from purchasing U.S. farmland and agricultural companies,
- Adds the Secretary of Agriculture as a standing member of the Committee on Foreign Investment in the United States to consider agriculture needs when making determinations affecting our national security,
- Requires the president to submit a report to Congress on any waiver granted to a prohibited country; and
- Requires reporting from the Secretary of Agriculture on the risk of foreign purchases of agricultural companies to the American agriculture sector.
This legislation is cosponsored by Senators Kevin Cramer (R-N.D.), John Hoeven (R-N.D.), Cynthia Lummis (R-Wyo.) and John Thune (R-S.D.). Companion legislation has been introduced in the House by Representatives Elise Stefanik (R-N.Y.), Jim Costa (D-Calif.) and Rick Crawford (R-Ark.).
