|
Washington, D.C. --- U.S. Rep. Frank Pallone, Jr. (D-NJ) joined with U.S. Rep. Debbie Wasserman Schultz (D-FL) today to introduce legislation in the U.S. House of Representatives that will prevent foreign owned companies from operating American ports. The same legislation was introduced earlier this week in the U.S. Senate by U.S. Sens. Robert Menendez (D-NJ) and Hillary Rodham Clinton (D-NY).
The legislation would prohibit foreign companies owned or controlled by governments from purchasing port operations in the United States. It comes in response to the Bush administration's proposed sale of operations at six major U.S. ports to Dubai Ports World, a company owned by the government of the United Arab Emirates (UAE).
"The Bush administration should have never approved a deal to allow the United Arab Emirates to operate at least six major U.S. ports," Pallone remarked on the floor of the House. "We already know our ports are vulnerable. We shouldn't add to that vulnerability by turning our port operations over to another country.
"Based on the Congressional outrage we've seen for the president's UAE port deal, I am hopeful our legislation will garner bipartisan support," Pallone said. "We simply cannot afford to outsource portions of our homeland security, and that's why passage of this legislation is so critical."
Pallone is also an original co-sponsor of the Foreign Investment Security Improvement Act of 2006 introduced earlier this week by U.S. Rep. Peter King (R-NY), a bill that would ensure Congress' oversight role in the investigation of UAE.
Dubai Ports World has agreed to submit to a 45-day investigation by the Committee on Foreign Investment in the United States (CFIUS). Following the investigation, the legislation would require a report be provided to Congress within 15 days outlining the findings and the Presidential determination. Congress would then have 30 days to reverse an approval of the transaction through legislation.
"Congress must play a role in the approval process of this port deal," Pallone said. "Otherwise, I'm concerned the president will simply sign off on the deal at the end of the 45 days without any involvement from Congress." |
