Global Investment in American Jobs Act of 2023
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 from responsible private-sector entities based in trusted countries and addressing foreign trade barriers that firms in advanced technology sectors face in the global digital economy.
Among other elements, the review shall include an assessment of (1) the 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 facilitate foreign direct investment, and (4) the adequacy of federal government efforts to encourage and facilitate foreign direct investment in the United States.
Commerce must report the findings of such review to Congress and the Government Accountability Office (GAO) and include recommendations for increasing the global competitiveness of the United States in attracting foreign direct investment. The GAO must submit a review and assessment of the report to Congress.
[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 813 Introduced in House (IH)]
<DOC>
118th CONGRESS
1st Session
H. R. 813
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
February 2, 2023
Mr. Pence 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 2023''.
SEC. 2. SENSE OF CONGRESS.
It is the sense of Congress that--
(1) the ability of the United States to attract foreign
direct investment from responsible private-sector entities
based in trusted countries 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, economic prosperity, and security of the
United States by--
(A) removing unnecessary barriers to foreign direct
investment from responsible private-sector entities
based in trusted countries 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;
(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
(D) promoting policies that maintain and expand
resilient supply chains and reduce the dependence of
the United States on supply chains from China;
(3) maintaining the United States commitment to an open
investment policy with private-sector entities based in trusted
countries encourages other countries to reciprocate and enable
the United States to open new markets abroad for United States
companies and their products;
(4) while foreign direct investment by responsible private-
sector entities based in trusted countries can enhance the
United States economic strength, policies regarding foreign
direct investment should reflect security interests and should
not disadvantage domestic investors or companies;
(5) United States efforts to attract foreign direct
investment from responsible private-sector entities based in
trusted countries should be consistent with efforts to maintain
and improve domestic standard of living;
(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
including data localization and infringement of intellectual
property rights must be further addressed; and
(7) foreign direct investment by companies or other
entities owned, directed, supported, or influenced by the
Chinese Communist Party is a threat to U.S. security and merits
an aggressive policy framework to protect U.S. interests, jobs,
intellectual property, and security.
SEC. 3. FOREIGN DIRECT INVESTMENT REVIEW.
(a) Review.--The Secretary of Commerce and the Comptroller General
of the Government Accountability Office, in consultation with the
Federal Interagency Investment Working Group established by Executive
Order 13577 and in consultation with 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 investment from responsible private-sector entities
based in trusted countries 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 the following:
(1) The current economic impact of foreign direct
investment in the United States, with particular focus on
manufacturing, services, trade (with an emphasis on digital
trade), and U.S. jobs.
(2) Trends in global cross-border investment and data flows
and the underlying factors for such trends.
(3) Federal Government policies that facilitate foreign
direct investment attraction and retention from responsible
private-sector entities based in trusted countries.
(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
relating to merger and acquisition activity.
(6) The unique challenges posed by foreign direct
investment, particularly acquisitions, in the United States by
State-owned or State-backed enterprises, especially from State-
directed economies, including companies or other entities
owned, directed, supported, or influenced by the Chinese
Communist Party.
(7) Specific information on the prevalence of investments
made by State-owned or State-backed enterprises, especially
from State-directed economies, including companies or other
entities owned, directed, supported, or influenced by the
Chinese Communist Party, with a particular focus on investments
relating to manufacturing, services, trade (with an emphasis on
digital trade), and jobs.
(8) How other trusted countries are dealing with the
challenge of State-directed and State-supported investment and
whether there are opportunities to work with like-minded
nations to address such challenge.
(9) Ongoing Federal Government efforts to improve the
investment climate and facilitate greater levels of foreign
direct investment in the United States from responsible
private-sector entities based in trusted countries.
(10) Innovative and noteworthy initiatives by State and
local government to attract foreign investment from responsible
private-sector entities based in trusted countries.
(11) Initiatives by other countries to identify best
practices for increasing global competitiveness in attracting
foreign direct investment from responsible private-sector
entities based in trusted countries.
(12) The impact that protectionist policies by other
countries, including forced data localization 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.
(13) Other barriers to the ability of the United States to
compete globally in an increasingly connected and digital
global economy, including, the use of technical barriers to
trade, country-specific standards for technology products and
digital services.
(14) The adequacy of efforts by the Federal Government to
encourage and facilitate foreign direct investment in the
United States.
(15) Efforts by the Chinese Communist Party to circumvent
existing laws to gain access to U.S. markets, foreign direct
investment responsible private-sector entities based in trusted
countries, or intellectual property.
(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.--Before--
(1) conducting the review pursuant to 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) the submission of the report pursuant to subsection
(e), the Secretary shall publish the proposed findings and
recommendations 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
the enactment of this Act, the Secretary, in coordination with the
Federal Interagency Investment Working Group and the heads of other
relevant Federal departments and agencies, shall submit to Congress a
report on the findings of the review required pursuant to subsection
(a) and include recommendations for increasing the global
competitiveness of the United States in attracting foreign direct
investment from responsible private-sector entities based in trusted
countries in a manner that strengthens or maintains the security,
labor, consumer, financial, or environmental protections of the United
States.
(f) Definitions.--In this Act:
(1) Responsible private-sector entity.--The term
``responsible private-sector entity'' means an entity that the
Secretary of Commerce determines is--
(A) not organized under the laws of a foreign
adversary; and
(B) not owned, controlled, or otherwise subject to
the influence of, a foreign adversary.
(2) Secretary.--The term ``Secretary'' means the Secretary
of Commerce.
(3) Trusted country.--The term ``trusted country'' means a
country that is not determined by the Secretary of Commerce to
be a of the United States.
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Introduced in House
Introduced in House
Referred to the House Committee on Energy and Commerce.
Referred to the Subcommittee on Innovation, Data, and Commerce.
Subcommittee Consideration and Mark-up Session Held.
Forwarded by Subcommittee to Full Committee by Voice Vote .
Committee Consideration and Mark-up Session Held.
Ordered to be Reported (Amended) by the Yeas and Nays: 50 - 0.
Reported (Amended) by the Committee on Energy and Commerce. H. Rept. 118-137.
Reported (Amended) by the Committee on Energy and Commerce. H. Rept. 118-137.
Placed on the Union Calendar, Calendar No. 108.
Mr. Bilirakis moved to suspend the rules and pass the bill, as amended.
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Considered under suspension of the rules. (consideration: CR H3624-3626)
DEBATE - The House proceeded with forty minutes of debate on H.R. 813.
At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
Considered as unfinished business. (consideration: CR H3628)
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 386 - 22 (Roll no. 330). (text: CR H3624)
Roll Call #330 (House)On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 386 - 22 (Roll no. 330). (text: CR H3624)
Roll Call #330 (House)Motion to reconsider laid on the table Agreed to without objection.
Received in the Senate and Read twice and referred to the Committee on Commerce, Science, and Transportation.