The Treasury Department is moving forward with a rule that will add 59 military bases across 30 states to the jurisdiction of the Committee on Foreign Investment in the U.S. and increase the scope of transactions CFIUS can examine for land purchases near eight other military bases (see 2407090003). The rule, released this month in prepublication form, includes multiple bases that lawmakers for months have urged Treasury to add to its purview, including two near planned Chinese lithium battery and electric vehicle plants.
House Select Committee on China Chairman Rep. John Moolenaar, R-Mich., plans to introduce a bill that would bring the State Department’s “scattered” economic security offices under a new deputy secretary position to help the U.S. compete with China, his office announced Nov. 1.
The Bureau of Industry and Security is being asked to do more to restrict the export of dual-use items but isn’t getting a commensurate increase in funding and personnel, a technology policy expert said last week.
House Foreign Affairs Committee Chairman Michael McCaul, R-Texas, is “glad” the Biden administration is moving forward with a final rule that will restrict U.S. outbound investment in China’s AI, quantum and semiconductor sectors, a spokesperson for the committee’s majority said Oct. 30.
The Committee on Foreign Investment in the U.S. will hold its third annual conference Nov. 19 in person at the Treasury Department, the agency announced. Previous conferences have featured keynote speeches and panel discussions with senior government and CFIUS officials (see 2309140005 and 2309150038). Event registration closes Nov. 6.
The Treasury Department's new final rule for outbound investment received mixed reviews from Congress this week.
The Senate’s proposed Georgian People’s Act will be modified “if needed” to ensure those responsible for “fraud and manipulation” in the country's recent parliamentary elections “are held accountable,” Sens. Jeanne Shaheen, D-N.H., and Jim Risch, R-Idaho, said in a joint statement this week.
The leaders of the House Select Committee on China urged the Commerce Department this week to prevent American know-how and investment from supporting the development of China’s photonic semiconductor sector.
Matt Cronin, former chief investigative counsel for the House Select Committee on China, has joined venture capital firm Andreessen Horowitz as a senior national security adviser, he announced on LinkedIn. He left his job on Capitol Hill earlier this month (2410160022).
A Senate bill that would sanction Republic of Georgia officials for corruption, human rights abuses and anti-democratic efforts has gained additional support, said a spokesperson for Sen. Jeanne Shaheen, D-N.H., who introduced the bill in May.