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March 8th, 2006 - - As I mentioned in my opening comments, I now have an amendment at the desk that relates to the Dubai Ports World deal that has generated considerable attention.
The amendment has been distributed. The Clerk will read the amendment in its entirety.
I have heard from many of my constituents who have strong concerns about the possibility of foreign-owned companies managing U.S. ports. I have also heard from many Members of this committee who have similar concerns. I have been working with the Republican leadership and relevant authorizing committee chairmen to craft this amendment to the supplemental to address these concerns.
The amendment is straightforward and is a rifle shot crafted to block the Dubai Ports World deal only. This is a national security issue, this is a national security bill. We want to make sure that the security of our ports is in America's hands.
My amendment blocks the deal by prohibiting Dubai Ports World or any entity controlled by DP World from taking control of United States port operations.
It is not my intention to have this committee rewrite the Defense Production Act or change the Committee on Foreign Investment in the United States (CFIUS) process-those are very complex policy decisions which rest primarily with the Financial Services Committee. Additionally, the Homeland Security Committee, the Armed Services committee, the Energy and Commerce Committee, and the International Relations Committee have a great deal of interest in this matter.
I know several Members will want to discuss this issue. I want to advise Members that we are operating under the 5-minute rule. Are there other Members who wish to be heard on this amendment?
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