Global Investment in American Jobs

Summary#

This bill directs the Secretary of Commerce, working with the Government Accountability Office and other federal agencies, to carry out an interagency review of how the United States can be more competitive in attracting foreign direct investment (FDI) from responsible private-sector entities based in trusted countries. The review must examine many topics, including the economic impact of FDI on manufacturing, services, digital trade, and jobs; trends in cross-border investment and data flows; government policies that help attract and keep investment; differences between greenfield investment and mergers and acquisitions; investments by state-owned or state-backed enterprises; how other countries handle such investment; state and local initiatives; and barriers such as forced data localization, production localization, industrial subsidies, and intellectual property infringement. The Secretary must publish a Federal Register notice and allow public comment before the review and again before submitting proposed findings. The review must not address laws or policies related to the Committee on Foreign Investment in the United States (CFIUS). A report with findings and recommendations is due to Congress within one year after the bill becomes law. The report must recommend ways to increase U.S. competitiveness in attracting FDI from responsible private-sector entities in trusted countries while strengthening or maintaining security, labor, consumer, financial, or environmental protections.

What it means for you#

• Federal agencies will study and report on how the U.S. attracts foreign investment and what barriers firms face, especially in advanced and digital technologies.
• Businesses, state and local governments, and the public can submit comments during two public comment periods described in the bill.
• The work could lead to new recommendations for federal or local actions, but the bill itself only requires a review and report. No direct changes to law or funding are made by this bill text.

Expenses#

No publicly available information.

Proponents' View#

The bill’s sponsors and text say that attracting FDI from responsible private-sector entities in trusted countries supports long-term economic prosperity, global competitiveness, job creation, technology leadership, and resilient supply chains. The bill calls for removing unnecessary barriers to such investment, promoting the United States as a top destination to invest and manufacture, protecting intellectual property and cross-border data flows, reducing dependence on certain foreign supply chains, and coordinating with like-minded countries on state-directed investment challenges.

Opponents' View#

No publicly available information.