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March 9, 2007

House Votes: H.R. 556 - Foreign Investment

H.Res. 195: Providing for the consideration of H.R. 556

H.R. 556: National Security Foreign Investment Reform and Strengthened Transparency Act of 2007

Debate

All Amendments (GovTrack, Thomas)


An amendment numbered 6 printed in the Congressional Record, to insert a new paragraph entitled Contents of Report Related to Barriers to Investment into the United States and specifies for inclusion in the report a detailed discussion of factors including the amount of burdensome regulation in the United States as compared to other countries that affect the number of filings, changes in the types of business sectors involved in filings, and changes in the number of investments originating from specific countries.
Failed 198-228, 12 not voting. 99% of Republicans supporting, 100% of Democrats opposing.

An amendment numbered 7 printed in the Congressional Record, to insert a new paragraph entitled Contents of Report Related to Barriers to Investment into the United States and specifies for inclusion in the report a detailed discussion of factors including trend information on the number of jobs in the United States related to foreign investment resulting from covered transactions, that affect the number of filings, changes in the type of business sectors involved in filings, and changes in the number of investments originating from specific countries.
Failed 197-231, 10 not voting. 98% of Republicans supporting, 99% of Democrats opposing.

Amendment to Amendment 6
Failed 197-231, 10 not voting. 98% of Republicans supporting, 100% of Democrats opposing.

On Motion to Recommit with Instructions
(consideration: CR H2007-2009; text: CR H2007-2008)
Page 30, line 17, strike the closing quotation marks and the 2nd period.

Page 30, after line 17, insert the following new paragraph:

``(4) CONTENTS OF REPORT RELATING TO BARRIERS TO INVESTMENT IN THE UNITED STATES.--In order to assist the Congress in its oversight role of ensuring the national security of the United States by assuring a healthy investment climate, the President, and such agencies as the President shall designate, shall include in the annual report submitted under paragraph (1) detailed analysis of factors in the United States, such as--

``(A) the deleterious effect of burdensome regulations;

``(B) fair, equitable and nondiscriminatory treatment of entrepreneurs, businesses and other sources of capital;

``(C) the stability of the financial markets; and

``(D) economic competitiveness driven by innovation,

that, when compared to similar conditions in other countries, may negatively impact the number of filings, cause changes in the types of business sectors involved in such filings, and adversely affect the number of investments originating from specific countries, or that may induce retaliatory actions by other countries that directly impair United States global investments.''.

Motion Failed 193-229, 11 not voting. 98% of Republicans supporting, 100% of Democrats opposing.

Passed House 423-0, 10 not voting. Bipartisan support.


House Takes Another Run at Foreign Investment Review Process Measure
This bill would overhaul the review process for foreign investments in the United States, although a leadership decision to allow amendments could complicate action on what is a now carefully crafted compromise.

After last year’s controversy over plans by a Dubai-based company to take over operations at several U.S. ports, the chamber easily passed a similar measure last July. The Senate passed its own measure, but no agreement was worked out before adjournment.

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