Rep. Robert Pittenger
WASHINGTON – Congressman Robert Pittenger (NC-09) released the following statement applauding Congressional negotiators for agreeing upon a final version of the Foreign Investment Risk Review Modernization Act (FIRRMA, H.R. 4311). FIRRMA is landmark national security legislation that strengthens how the Committee on Foreign Investment in the United States (CFIUS) reviews the national security risks of potential foreign investments.
On Thursday, the Wall Street Journal was the first outlet to publicly report the bipartisan, bicameral deal finalizing FIRRMA. The Wall Street Journal article can be found here: https://www.wsj.com/articles/ congress-to-step-up-curbs-on- chinese-deals-with-sweeping- changes-to-u-s-foreign- investment-reviews-1532025093
“Bipartisan majorities in both the House and the Senate agree that CFIUS reform is a critical national security priority. This landmark legislation will safeguard America’s proprietary dual-use technologies by drastically improving our foreign investment review process. After over two years of tireless work, I am elated to see the light at the end of the tunnel.”
Congressman Pittenger and Senate Majority Whip John Cornyn (R-TX) introduced FIRRMA on November 8th, 2017. The legislation has been publicly endorsed by the White House, Defense Secretary Jim Mattis, Attorney General Jeff Sessions, Treasury Secretary Steven Mnuchin, Commerce Secretary Wilbur Ross, Senate and House Intelligence Chairs Richard Burr and Devin Nunes, and hundreds of defense experts, generals, elected officials and private businesses.
FIRRMA was passed 400-2 by the U.S. House of Representatives on June 26, 2018. Companion legislation was included in the National Defense Authorization Act (NDAA), which passed the Senate on June 18th, 2018.
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