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June 14, 2006

Pryce: CFIUS Reform Strengthens
America’s Security, Economy

Reform Bill Clears House Financial Services Committee

WASHINGTON , D.C. – Today, Congresswoman Deborah Pryce (R-Upper Arlington) congratulated her colleagues on the House Committee on Financial Services for approving 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 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 transforms CFIUS, making the body more transparent to the American people and its actions more accountable to Congress. It further reaffirms our mandate that our markets can remain open and accessible to nations abroad without giving Americans cause to wonder if these nations mean us harm.”

“Foreign investment is a critical component to our economic vitality. Today, one in twenty Americans works for a foreign-owned company, and any retreat from global commerce will result directly in job losses for Americans. I am proud of this bill, and of the message it sends that our markets will remain open and our nation secure.”