Global Investment in American Jobs Act of 2020
This bill requires the Department of Commerce to conduct an interagency review of the global competitiveness of the United States in attracting foreign direct investment and addressing foreign trade barriers that firms in advanced technology sectors face in the global digital economy.
Such review shall include an assessment of (1) the current economic impact of foreign direct investment in the United States, (2) trends in global cross-border investment and data flows, (3) federal government policies that are linked to the ability of the United States to attract and retain foreign direct investment, and (4) the adequacy of federal government efforts to increase the ease for foreign firms considering investment in the United States.
Commerce must report the findings of such review and submit recommendations for increasing the global competitiveness of the United States in attracting foreign direct investment and developing new technologies and services.
[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 7753 Introduced in House (IH)]
<DOC>
116th CONGRESS
2d Session
H. R. 7753
To direct the Secretary of Commerce, in coordination with the heads of
other relevant Federal departments and agencies, to conduct an
interagency review of and report to Congress on ways to increase the
global competitiveness of the United States in attracting foreign
direct investment.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
July 23, 2020
Mrs. Rodgers of Washington (for herself and Mr. Rush) introduced the
following bill; which was referred to the Committee on Energy and
Commerce
_______________________________________________________________________
A BILL
To direct the Secretary of Commerce, in coordination with the heads of
other relevant Federal departments and agencies, to conduct an
interagency review of and report to Congress on ways to increase the
global competitiveness of the United States in attracting foreign
direct investment.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Global Investment in American Jobs
Act of 2020''.
SEC. 2. SENSE OF CONGRESS.
It is the sense of Congress that--
(1) the ability of the United States to attract foreign
direct investment is directly linked to the long-term economic
prosperity, global competitiveness, and security of the United
States;
(2) it is a top national priority to enhance the global
competitiveness, prosperity, and security of the United States
by--
(A) removing unnecessary barriers to foreign direct
investment and the jobs that such investment creates
throughout the United States;
(B) promoting policies to ensure the United States
remains the premier global destination to invest, hire,
innovate, provide services and manufacture products;
and
(C) promoting policies to ensure the United States
remains the global leader in developing and deploying
cutting-edge technologies such as self-driving vehicle
technology, artificial intelligence, Internet of
Things, quantum computing, blockchain, and the like;
(3) maintaining the United States commitment to open
investment policy encourages other countries to reciprocate and
enables the United States to open new markets abroad for United
States companies and their products;
(4) while foreign direct investment can enhance the United
States economic strength, policies regarding foreign direct
investment should reflect national security interests and
should not disadvantage domestic investors or companies;
(5) United States efforts to attract foreign direct
investment should be consistent with efforts to maintain and
improve the domestic standard of living; and
(6) as digital information becomes increasingly important
to the United States economy and the development of new
technologies and services that will be crucial to the country's
competitiveness in the 21st century global economy, barriers
such as data localism and infringement of intellectual property
rights must be addressed.
SEC. 3. FOREIGN DIRECT INVESTMENT REVIEW.
(a) Review.--The Secretary of Commerce, in coordination with the
Federal Interagency Investment Working Group and the heads of other
relevant Federal departments and agencies, shall conduct an interagency
review of the global competitiveness of the United States in attracting
foreign direct and addressing key foreign trade barriers that firms in
advanced technology sectors face in the global digital economy.
(b) Specific Matters To Be Included.--The review conducted pursuant
to subsection (a) shall include a review of--
(1) the current economic impact of foreign direct
investment in the United States, with particular focus on
manufacturing, services, research and development, trade (with
an emphasis on digital trade), and jobs;
(2) trends in global cross-border investment and data flows
and the underlying factors for such trends;
(3) Federal Government policies that are closely linked to
the ability of the United States to attract and retain foreign
direct investment;
(4) foreign direct investment as compared to direct
investment by domestic entities;
(5) foreign direct investment that takes the form of
greenfield investment as compared to foreign direct investment
reflecting merger and acquisition activity;
(6) the unique challenges posed by foreign direct
investment, particularly acquisitions, by state-owned or state-
backed enterprises, especially from state-directed economies;
(7) how other countries are dealing with the challenge of
state-directed and supported investment and whether there are
opportunities to work with like-minded nations in addressing
these shared challenges;
(8) ongoing Federal Government efforts to improve the
investment climate and facilitate greater levels of foreign
direct investment in the United States;
(9) innovative and noteworthy State, regional, and local
government initiatives to attract foreign investment;
(10) initiatives by other countries in order to identify
best practices for increasing global competitiveness in
attracting foreign direct investment;
(11) the impact that protectionist policies by other
countries, such as forced data localism rules, forced
localization of production, industrial subsidies, and the
infringement of intellectual property rights, have on the
advanced technology economy of the United States and the
ability for United States located firms to develop innovative
technologies;
(12) other barriers to the United States ability to compete
globally in an increasingly connected and digital globally
economy, for instance, the use of technical barriers to trade
(such as country specific standards for technology products and
digital services); and
(13) the adequacy of efforts by the Federal Government to
increase the ease for foreign firms considering investment in
the United States.
(c) Limitation.--The review conducted pursuant to subsection (a)
shall not address laws or policies relating to the Committee on Foreign
Investment in the United States.
(d) Public Comment.--Prior to--
(1) conducting the review under subsection (a), the
Secretary shall publish notice of the review in the Federal
Register and shall provide an opportunity for public comment on
the matters to be covered by the review; and
(2) reporting pursuant to subsection (e), the Secretary
shall publish the proposed findings and recommendations to
Congress in the Federal Register and shall provide an
opportunity for public comment.
(e) Report to Congress.--Not later than one year after the date of
enactment of this Act, the Secretary of Commerce, in coordination with
the Federal Interagency Investment Working Group and the heads of other
relevant Federal departments and agencies, shall report to Congress the
findings of the review required under subsection (a) and submit
recommendations for increasing the global competitiveness of the United
States in attracting foreign direct investment and developing 21st
century technologies and services, without weakening national security,
labor, consumer, financial, or environmental protections.
<all>
Introduced in House
Introduced in House
Referred to the House Committee on Energy and Commerce.
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