[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2052 Reported in Senate (RS)]
Calendar No. 557
113th CONGRESS
2d Session
H. R. 2052
[Report No. 113-252]
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
September 10, 2013
Received; read twice and referred to the Committee on Commerce,
Science, and Transportation
September 10, 2014
Reported by Mr. Rockefeller, without amendment
_______________________________________________________________________
AN ACT
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 2013''.
SEC. 2. FINDINGS.
Congress finds the following:
(1) It remains an urgent national priority to improve
economic growth and create new jobs.
(2) National security requires economic strength and global
engagement.
(3) Businesses today have a wide array of choices when
considering where to invest, expand, or establish new
operations.
(4) Administrations of both parties have consistently
reaffirmed the need to promote an open investment climate as a
key to domestic economic prosperity and security.
(5) The United States has historically been the largest
worldwide recipient of foreign direct investment but has seen
its share decline in recent years.
(6) The United States faces increasing competition from
other countries as it works to recruit investment from global
companies.
(7) Foreign direct investment can benefit the economy and
workforce of every State and Commonwealth in the United States.
(8) According to the latest Federal statistics, the United
States subsidiaries of companies headquartered abroad
contribute to the United States economy in a variety of
important ways, including by--
(A) providing jobs for an estimated 5,600,000
Americans, with compensation that is often higher than
the national private-sector average, as many of these
jobs are in high-skilled, high-paying industries;
(B) strengthening the United States industrial base
and employing nearly 15 percent of the United States
manufacturing sector workforce;
(C) establishing operations in the United States
from which to sell goods and services around the world,
thereby producing nearly 18 percent of United States
exports;
(D) promoting innovation with more than
$41,000,000,000 in annual United States research and
development activities;
(E) paying nearly 14 percent of United States
corporate income taxes; and
(F) purchasing goods and services from local
suppliers and small businesses worth hundreds of
billions of dollars annually.
(9) These companies account for 5.8 percent of United
States private sector gross domestic product.
(10) The Department of Commerce has initiatives in place to
increase foreign direct investment.
(11) The President issued a statement in 2011 reaffirming
the longstanding open investment policy of the United States
and encouraged all countries to pursue such a policy.
(12) The President signed an executive order in 2011 to
establish the SelectUSA initiative and expanded its resources
and activities in 2012, so as to promote greater levels of
business investment in the United States.
(13) The President's Council on Jobs and Competitiveness in
2011 recommended the establishment of a National Investment
Initiative to attract $1,000,000,000,000 in foreign direct
investment over five years.
(14) Sound transportation infrastructure, a well-educated
and healthy workforce, safe food and water, stable financial
institutions, a fair and equitable justice system, and
transparent and accountable administrative procedures are
important factors that contribute to United States global
competitiveness.
SEC. 3. SENSE OF CONGRESS.
It is the sense of Congress that--
(1) the ability of the United States to attract foreign
direct investment 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, prosperity, and security of the United States
by--
(A) removing unnecessary barriers to foreign direct
investment and the jobs that it creates throughout the
United States; and
(B) promoting policies to ensure the United States
remains the premier global destination in which to
invest, hire, innovate, and manufacture products;
(3) maintaining the United States' commitment to open
investment policy encourages other countries to reciprocate and
enables the United States to open new markets abroad for United
States companies and their products;
(4) while foreign direct investment can enhance the
Nation's economic strength, policies regarding foreign direct
investment should reflect national security interests and
should not disadvantage domestic investors or companies; and
(5) United States efforts to attract foreign direct
investment should be consistent with efforts to maintain and
improve the domestic standard of living.
SEC. 4. FOREIGN DIRECT INVESTMENT REVIEW.
(a) Review.--The Secretary of Commerce, in coordination with the
Federal Interagency Investment Working Group and 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.
(b) Specific Matters to Be Included.--The review conducted pursuant
to subsection (a) shall include a review of--
(1) the current economic impact of foreign direct
investment in the United States, with particular focus on
manufacturing, research and development, trade, and jobs;
(2) trends in global cross-border investment flows and the
underlying factors for such trends;
(3) Federal Government policies that are closely linked to
the ability of the United States to attract and retain foreign
direct investment;
(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
reflecting merger and acquisition activity;
(6) the unique challenges posed by foreign direct
investment by state-owned enterprises;
(7) ongoing Federal Government efforts to improve the
investment climate and facilitate greater levels of foreign
direct investment in the United States;
(8) innovative and noteworthy State, regional, and local
government initiatives to attract foreign investment; and
(9) initiatives by other countries in order to identify
best practices for increasing global competitiveness in
attracting foreign direct investment.
(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.--Prior to--
(1) conducting the review under 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) reporting pursuant to subsection (e), the Secretary
shall publish the proposed findings and recommendations to
Congress 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
enactment of this Act, the Secretary of Commerce, in coordination with
the Federal Interagency Investment Working Group and the heads of other
relevant Federal departments and agencies, shall report to Congress the
findings of the review required under subsection (a) and submit
recommendations for increasing the global competitiveness of the United
States in attracting foreign direct investment without weakening labor,
consumer, financial, or environmental protections.
Calendar No. 557
113th CONGRESS
2d Session
H. R. 2052
[Report No. 113-252]
_______________________________________________________________________
AN ACT
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.
_______________________________________________________________________
September 10, 2014
Reported without amendment