Senate Banking Committee Chairman Tim Scott, R-S.C., announced June 18 that he is reintroducing a bill that would require the Committee on Foreign Investment in the U.S. to annually update its list of sensitive military, intelligence and national laboratory facilities. The Protect Our Bases Act is intended to ensure CFIUS reviews foreign land purchases near sensitive sites. The legislation, which Scott previously introduced in the last Congress, has 11 co-sponsors, all Republican.

The House Appropriations Subcommittee on Agriculture approved an FY 2026 appropriations bill June 5 that would add the USDA to the Committee on Foreign Investment in the U.S. to review agricultural transactions. A similar provision was included in an FY 2024 appropriations law (see 2403110058). The new bill also would provide funding to improve the tracking system for foreign-owned agricultural land.

Companies subject to U.S. investment screening are hoping the Trump administration takes a more predictable approach to reviews by the Committee on Foreign Investment in the U.S., including by focusing on purely national security concerns, industry officials said this week.

Three senators introduced a bill April 9 that would authorize the Committee on Foreign Investment in the U.S. to review greenfield and brownfield investments in the U.S. by China and other “foreign countries of concern.”

Sen. Ted Budd, R-N.C., and two other senators introduced a bill April 10 that would bar companies owned or controlled by China or other “foreign adversaries” from owning or operating retail stores on U.S. military bases.

The House Financial Services Committee unanimously approved several bills March 5 dealing with foreign investment and sanctions.

Sen. Roger Marshall, R-Kan., and Rep. Dan Newhouse, R-Wash., reintroduced a bill Feb. 25 that would add the agriculture secretary to the Committee on Foreign Investment in the U.S. to review agricultural transactions. The Protecting American Agriculture from Foreign Adversaries Act was referred to the Senate Banking Committee and the House Financial Services, Foreign Affairs and Energy and Commerce committees. The full House passed the bill in September, in the previous Congress (see 2409110045).

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Republican lawmakers reintroduced several bills Jan. 22 aimed at curbing the acquisition of American land by certain foreign countries.

Scott Bessent, President-elect Donald Trump’s choice for Treasury secretary, said Jan. 16 that the U.S. should institute a “very rigorous screening process” to ensure its outbound investment does not help China catch up to the U.S. in such key technology areas as artificial intelligence, computing chips, quantum computing and surveillance.