03/18/2024

Rep. Robert Pittenger

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Rep. Robert Pittenger

WASHINGTON – Congressman Robert Pittenger has received a letter from Secretary of Defense Jim Mattis expressing “sincere appreciation” for serving as the architect of the Foreign Investment Risk Review Modernization Act, which President Trump recently signed into law.

“I want to express my sincere appreciation for your commitment to safeguarding our Nation’s competitive advantage as the architect in the House of Representatives of the Foreign Investment Risk Review Modernization Act (FIRRMA), included in this year’s National Defense Authorization Act,” writes Secretary Mattis.  “Strengthening and protecting critical national security infrastructure, technologies, and functions are vital to safeguarding our freedoms for the next generation.  The updates FIRRMA provides to the Committee on Foreign Investment in the United States will help provide that protection.  This success would not have been possible without your sustained engagement with fellow Congressional Representatives over many months.”

A copy of Secretary Mattis’ letter to Congressman Pittenger is attached.

The Committee on Foreign Investment in the United States (CFIUS) is the only government mechanism to ensure potential foreign investments do not harm America’s national security.  However, CFIUS has not been substantially updated in many years.

The Foreign Investment Risk Review Modernization Act, which was included with this year’s National Defense Authorization Act:

*Expands both CFIUS and Export Control rules to include joint ventures, minority position investments, and real estate transactions near military bases and other sensitive national security facilities.

*Updates CFIUS definition of “critical technologies” to include emerging technologies that could be essential for maintaining the U.S. technological advantage over countries that pose threats.

*Adds new national security factors to the review process.

*Strengthens the government’s ability to protect American “critical infrastructure” from foreign government disruption.

*Creates a mechanism for the Treasury Department to work with America’s allies to improve the foreign investment review process overseas, strengthening global security.

Congressman Pittenger and Senate Majority Whip John Cornyn first introduced FIRRMA in November 2017.  Their bipartisan legislation received strong pushback from businesses which have profited from China’s military build-up, but was endorsed by The White House, Defense Secretary Mattis, and five former Secretaries of Defense.

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