Washington- The Coalition for a Prosperous America (CPA) has endorsed the United States Foreign Investment Review Act of 2017 (S. 1983) cosponsored by Senators Sherrod Brown and Charles Grassley. The bill strengthens the review of incoming foreign investment based upon whether the long-term strategic economic interests are served by the transaction.
Current law allows review of foreign investment based upon national security, but not economic security, grounds. The Committee on Foreign Investment in the US (CFIUS) is the multi-agency body that conducts the reviews.
Other countries consider economic security in their industrial, trade and investment strategies. America’s open investment policy can be abused by economic competitors who buy important companies and technologies that will remove production and future innovation from the US. CPA favors a national economic and trade strategy as a general proposition. We have endorsed the “United States Foreign Investment Review Act of 2017” because it is a necessary part of any American economic strategy.