Pryce: CFIUS Reform Strengthens
America’s Security, Economy
Pryce-Backed Reform Bill Clears House
WASHINGTON , D.C. – Today, Congresswoman Deborah Pryce (R-Columbus) hailed House passage of H.R. 5337, the National Security Foreign Investment Reform and Strengthened Transparency Act of 2006 (National Security FIRST Act), legislation reforming the Committee on Foreign Investment in the United States (CFIUS). Pryce is a cosponsor of the bill and fourth-ranking member of the Financial Services Committee.
“ America must continue to lead in our global economy, but we must never sacrifice our sense of national security in pursuit of foreign investment,” said Pryce. “This issue touches every American who wants to know that each day, they are safe—and I believe this legislation gives Americans this important confidence.”
Pryce added, “This bipartisan legislation updates CFIUS for a post 9/11 world in which all facets of America’s interactions with other nations – particularly trade and financial relationships -- need to be scrutinized for their impacts on national and homeland security. This legislation strives to enhance national security while promoting foreign investment and creating and maintaining jobs.
“The American people can feel confident that this legislation institutes the oversight and protections needed to determine if a foreign investment transaction is in our national security interests. In a world intertwined by global companies, it is critical we continue to protect national and economic security while promoting foreign investment. I am proud of this bill, and of the message it sends to the world that our markets will remain open and our nation secure.”
