Chairman Royce Statement on the Foreign Investment Risk Review Modernization Act of 2018Press Release
Washington, D.C. – House Foreign Affairs Committee Chairman Ed Royce (R-CA) issued the following statement ahead of tomorrow’s Financial Services Committee markup of Rep. Robert Pittenger’s (R-NC) H.R. 5841:
“I applaud Rep. Pittenger, Rep. Barr and Chairman Hensarling for their hard work to prepare this legislation for markup. America’s competitive edge, and our national security, is increasingly at risk because of the aggressive practices of China, Russia and others. This bill strengthens the Committee on Foreign Investment in the United States, enhancing inward investment security. It also includes my bipartisan reforms to bolster U.S. export control regulations. By closing gaps that could allow transfers of sensitive technologies to potential adversaries, we can keep America safe and help our manufacturers and innovators keep doing what they do best: create jobs and prosperity. I look forward to helping advance this bill to the House floor.”
NOTE: Chairman Royce is a co-sponsor of H.R. 5841. Last month, the Foreign Affairs Committee unanimously passed Royce’s H.R. 5040, to modernize U.S. export control regulations.