[Pages H3624-H3626]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

GLOBAL INVESTMENT IN AMERICAN JOBS ACT OF 2023

Mr. BILIRAKIS. Mr. Speaker, I move to suspend the rules and pass the
bill (H.R. 813) 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, as amended.
The Clerk read the title of the bill.
The text of the bill is as follows:

H.R. 813

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 2023''.

SEC. 2. SENSE OF CONGRESS.

It is the sense of Congress that--
(1) the ability of the United States to attract foreign
direct investment from responsible private-sector entities
based in trusted countries 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, economic prosperity, and security of the
United States by--
(A) removing unnecessary barriers to foreign direct
investment from responsible private-sector entities based in
trusted countries and the jobs that such investment creates
throughout the United States;
(B) promoting policies to ensure the United States remains
the premier global destination to invest, hire, innovate,
provide services, and manufacture products;
(C) promoting policies to ensure the United States remains
the global leader in developing and deploying cutting-edge
technologies, such as self-driving vehicle technology,
artificial intelligence, Internet of Things, quantum
computing, blockchain; and
(D) promoting policies that maintain and expand resilient
supply chains and reduce the dependence of the United States
on supply chains from China and other foreign adversaries;
(3) maintaining the United States commitment to an open
investment policy with private-sector entities based in
trusted countries encourages other countries to reciprocate
and enable the United States to open new markets abroad for
United States companies and their products;
(4) while foreign direct investment by responsible private-
sector entities based in trusted countries can enhance the
United States economic strength, policies regarding foreign
direct investment should reflect security interests and
should not disadvantage domestic investors, companies, or the
workforce;
(5) United States efforts to attract foreign direct
investment from responsible private-sector entities based in
trusted countries should be consistent with efforts to
maintain and improve the domestic standard-of-living,
including for the workforce;
(6) as digital information becomes increasingly important
to the United States economy and the development of new
technologies and services that will be crucial to the
country's competitiveness in the 21st century global economy,
barriers including data localization and infringement of
intellectual property rights must be further addressed;
(7) foreign direct investment by companies or other
entities owned, directed, supported, or influenced by the
Chinese Communist Party is a threat to United States security
and merits an aggressive policy framework to protect United
States interests, jobs, intellectual property, and security;

[[Page H3625]]

(8) foreign direct investment from any source should not
result in the net loss of United States economic activity,
productive capabilities, and supply chain resilience; and
(9) foreign direct investment from any source should
strengthen United States security and support United States
workforce, health and safety, consumer, and financial
standards.

SEC. 3. FOREIGN DIRECT INVESTMENT REVIEW.

(a) Review.--The Secretary, in consultation with the
Federal Interagency Investment Working Group established
pursuant to Executive Order 13577 (76 Fed Reg. 35715;
relating to establishment of the SelectUSA Initiative) and in
consultation with the heads of other relevant agencies, shall
conduct an interagency review of the global competitiveness
of the United States in attracting foreign direct investment
from responsible private-sector entities based in trusted
countries and addressing key foreign trade barriers that
firms in advanced technology sectors face in the global
digital economy.
(b) Specific Matters To Be Included.--The review conducted
pursuant to subsection (a) shall include a review of the
following:
(1) The economic impact of foreign direct investment in the
United States, with particular focus on manufacturing,
services, trade (with an emphasis on digital trade), and
United States jobs.
(2) Trends in global cross-border investment and data flows
and the underlying factors for such trends.
(3) Federal Government policies, that facilitate foreign
direct investment attraction and retention from responsible
private-sector entities based in trusted countries.
(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 relating to merger and acquisition activity.
(6) The unique challenges posed by foreign direct
investment, particularly acquisitions, in the United States
by State-owned or State-backed enterprises, especially from
State-directed economies, including companies or other
entities owned, directed, supported, or influenced by the
Chinese Communist Party.
(7) Specific information on the prevalence of investments
made by State-owned or State-backed enterprises, especially
from State-directed economies, including companies or other
entities owned, directed, supported, or influenced by the
Chinese Communist Party, with a particular focus on
investments relating to manufacturing, services, trade (with
an emphasis on digital trade), and jobs.
(8) How other trusted countries are dealing with the
challenge, including screening for and preventing market
distorting investments, of State-directed and State-supported
investment and whether there are opportunities to work with
like-minded nations to address such challenge.
(9) Ongoing Federal Government efforts to improve the
investment climate and facilitate greater levels of foreign
direct investment in the United States from responsible
private-sector entities based in trusted countries.
(10) Innovative and noteworthy initiatives by State and
local government to attract foreign investment from
responsible private-sector entities based in trusted
countries.
(11) Initiatives by other countries to identify best
practices for increasing global competitiveness in attracting
foreign direct investment from responsible private-sector
entities based in trusted countries.
(12) The impact that protectionist policies by other
countries, including forced data localization rules, forced
localization of production, industrial subsidies, and the
infringement of intellectual property rights, have on the
advanced technology economy of the United States and the
ability for United States located firms to develop innovative
technologies.
(13) Other barriers to the ability of the United States to
compete globally in an increasingly connected and digital
global economy, including the use of technical barriers to
trade (such as country-specific standards for technology
products and digital services).
(14) The adequacy of efforts by the Federal Government to
encourage and facilitate foreign direct investment in the
United States.
(15) Efforts by the Chinese Communist Party to circumvent
existing laws to gain access to United States markets,
foreign direct investment responsible private-sector entities
based in trusted countries, or intellectual property.
(16) The extent to which foreign direct investment from any
source, including the Chinese Communist Party, results in
displacement, offshoring, or outsourcing, including the
impact of such investment on supply chains.
(c) Limitation.--The review conducted pursuant to
subsection (a) may not address laws or policies relating to
the Committee on Foreign Investment in the United States.
(d) Public Comment.--
(1) Review.--Not sooner than 60 days before the date on
which the review is commenced pursuant to 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.
(2) Report.--Not sooner than 60 days before the date on
which the report is submitted pursuant to subsection (e), the
Secretary shall publish the proposed findings and
recommendations 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 the enactment of this Act, the Secretary, in
coordination with the Federal Interagency Investment Working
Group and the heads of other relevant agencies, shall submit
to Congress and the Comptroller General a report on the
findings of the review required pursuant to subsection (a)
and include recommendations for increasing the global
competitiveness of the United States in attracting foreign
direct investment from responsible private-sector entities
based in trusted countries in a manner that strengthens or
maintains the security, workforce, consumer, or financial
protections of the United States.
(f) Comptroller General Review.--Not later than one year
after the date on which the Comptroller General receives the
report pursuant to subsection (e), the Comptroller General
shall submit to Congress a review and assessment of the
report.
(g) Definitions.--In this Act:
(1) Agency.--The term ``agency'' has the meaning given that
term in section 551 of title 5, United States Code.
(2) Foreign adversary.--The term ``foreign adversary'' has
the meaning given that term in part 7.4 of title 15, Code of
Federal Regulations.
(3) Responsible private-sector entity.--The term
``responsible private-sector entity'' means an entity that
the Secretary determines is--
(A) not organized under the laws of a foreign adversary;
and
(B) not owned, controlled, or otherwise subject to the
influence of, a foreign adversary.
(4) Secretary.--The term ``Secretary'' means the Secretary
of Commerce.
(5) State.--The term ``State'' means each State of the
United States, the District of Columbia, each commonwealth,
territory, or possession of the United States, and each
federally recognized Indian Tribe.
(6) Trusted country.--The term ``trusted country'' means a
country or economy that is not determined by the Secretary to
be a foreign adversary of the United States.

The SPEAKER pro tempore. Pursuant to the rule, the gentleman from
Florida (Mr. Bilirakis) and the gentlewoman from Washington (Ms.
Schrier) each will control 20 minutes.
The Chair recognizes the gentleman from Florida.

General Leave

Mr. BILIRAKIS. Mr. Speaker, I ask unanimous consent that all Members
may have 5 legislative days in which to revise and extend their remarks
and insert extraneous material in the Record on this particular bill.
The SPEAKER pro tempore. Is there objection to the request of the
gentleman from Florida?
There was no objection.
Mr. BILIRAKIS. Mr. Speaker, I yield myself such time as I may
consume.
Mr. Speaker, I rise in support of H.R. 813, the Global Investment in
American Jobs Act of 2023.
I thank Representative Pence for his work on this legislation and
Representatives Eshoo and Blunt Rochester and all the cosponsors for
their support of this very important piece of legislation.
Foreign direct investment, or FDI, has proven to be critical for
America's economy, and it is also an integral part of our Nation's
technological leadership. Still, FDI can be deterred by unnecessary
barriers that prohibit its expansion from trusted countries, allies,
and friendly economies. Removing these barriers will ensure that the
United States remains the global leader in attracting FDI.
This legislation will require the Secretary of Commerce, along with
heads of other relevant Federal departments and agencies, to conduct an
interagency review and report to Congress on ways to increase the
global competitiveness of the U.S. in attracting FDI from trusted
countries--I repeat, trusted countries--and economies. This is an
important distinction that my friend from Indiana included, and I
appreciate this, to ensure we focus on ways to increase FDI from our
allies--again, from our allies--rather than countries like China,
Russia, or anyone else who wants to do harm to our great country.
Mr. Speaker, I urge my colleagues to support this legislation, and I
reserve the balance of my time.
Ms. SCHRIER. Mr. Speaker, I yield myself such time as I may consume.
Mr. Speaker, I rise to speak in support of H.R. 813, the Global
Investment in American Jobs Act. As this legislation's name would
suggest, we should work to encourage foreign direct investment that
supports high-quality jobs here in the United States. Foreign direct
support and investment from

[[Page H3626]]

nonadversarial nations can be used to grow critical sectors important
for our economic success and national security, including by creating
new jobs in our Nation's manufacturing sector.
Once the envy of the world, our manufacturing base has faced steady
headwinds for the past several decades. Our Nation's share of global
manufacturing activity declined from 28 percent in 2002 to just over 17
percent in 2020. Investment in America's small and medium
manufacturers, the bedrock of our industrial might, has also declined
over the past 20 years by more than $200 billion. In that same two-
decade period, our domestic manufacturing base has shed more than 4
million jobs.
It is time to reverse these trends by revitalizing our Nation's
manufacturing industry and bringing jobs back home. The work we did
last Congress passing the bipartisan infrastructure law, the Inflation
Reduction Act, and the CHIPS and Science Act is already helping to turn
the tide. The United States added nearly 700,000 manufacturing jobs
during President Biden's first 20 months in office. Total construction
spending on manufacturing in the United States has skyrocketed to
nearly $200 billion per month, more than doubling prepandemic levels.
Foreign direct investment can be another part of the solution to
revitalize American manufacturing and job creation. Over a third of all
foreign direct investments are in domestic manufacturing, exceeding a
total of $120 billion a year. This bill would ensure we keep that flow
of investments strong and that such investments support quality, good-
paying jobs right here at home.
I commend Representatives Pence and Eshoo for their leadership on
this issue, and I urge my colleagues to support this legislation.
Mr. Speaker, I reserve the balance of my time.
Mr. BILIRAKIS. Mr. Speaker, I yield such time as he may consume to
the gentleman from the great State of Indiana (Mr. Pence), my good
friend.
Mr. PENCE. Mr. Speaker, I rise today to urge my colleagues to join me
in supporting my legislation, H.R. 813, the Global Investment in
American Jobs Act.
This bill seeks to improve the attractiveness of foreign investment
from allied nations and identify barriers that are holding back
American competitiveness.
Over 200,000 Hoosiers are directly employed by international
companies, 56 percent of which are in the manufacturing sector. Because
of our long, storied history as a leader in manufacturing, companies
across the world have keyed in to Indiana.
Before companies started outsourcing operations to China and other
countries, company towns had lifted small and rural communities across
the Hoosier State. Take Cummins Engine Company, for example. I have
lived in Columbus, Indiana, my entire life, and nearly every family, my
own included, has some connection to the company that has helped build
and grow Columbus.
Beyond Indiana, communities across the country share similar stories
where foreign investment has lifted up communities with stable, good-
paying jobs. International companies in the U.S. employ 8 million
workers and, over the past 5 years, have created 400,000 new
manufacturing jobs.
As countries across the world rethink partnerships with the Chinese
Communist Party and other bad actors, we have an opportunity to
leverage investments from allied nations.
Importantly, this legislation would seek to uncover actions from the
CCP to gain access to U.S. markets and circumvent national security
laws. For decades, China has built a calculated strategy to corner
global supply chains through IP theft and free-market manipulation.
H.R. 813 addresses anticompetitive practices of the CCP to undermine
innovation and gain footholds in next-generation technologies.

I am encouraged that the Global Investment in American Jobs Act has
long had broad, bipartisan support, like from my colleague from
California, Congresswoman Eshoo. I look forward to working across the
aisle to pass this legislation.
Mr. Speaker, I urge support for this bill.
Ms. SCHRIER. Mr. Speaker, I yield myself the balance of my time to
close.
I would summarize by saying that this is an excellent bill. There are
so many ways to build up our manufacturing sector and to invest in our
workforce. Many of those we have already done through the
infrastructure law, the Inflation Reduction Act, and the CHIPS and
Science Act. This is another way to shore up jobs and manufacturing
here at home by encouraging foreign investments from friendly nations.
Mr. Speaker, I encourage my colleagues to vote ``yes'' on this bill,
and I yield back the balance of my time.
Mr. BILIRAKIS. Mr. Speaker, I yield myself the balance of my time to
close.
I am proud to be able to work with these great people here on a very
important bill. We need to encourage legitimate foreign investment in
our country. I know that other countries create the right environment
for us to invest in their countries, and it has really been a great
success. We want to continue to do that, but, again, we are emphasizing
that these have to be legitimate foreign investments from legitimate
allied countries.
Mr. Speaker, I commend the sponsors, and I yield back the balance of
my time.
The SPEAKER pro tempore. The question is on the motion offered by the
gentleman from Florida (Mr. Bilirakis) that the House suspend the rules
and pass the bill, H.R. 813, as amended.
The question was taken.
The SPEAKER pro tempore. In the opinion of the Chair, two-thirds
being in the affirmative, the ayes have it.
Mr. BILIRAKIS. Mr. Speaker, on that I demand the yeas and nays.
The yeas and nays were ordered.
The SPEAKER pro tempore. Pursuant to clause 8 of rule XX, further
proceedings on this motion will be postponed.

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