[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 2563 Reported in Senate (RS)]
<DOC>
Calendar No. 356
119th CONGRESS
2d Session
S. 2563
[Report No. 119-116]
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.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
July 31, 2025
Mr. Young (for himself and Mr. Peters) introduced the following bill;
which was read twice and referred to the Committee on Commerce,
Science, and Transportation
March 12, 2026
Reported by Mr. Cruz, with an amendment
[Strike out all after the enacting clause and insert the part printed
in italic]
_______________________________________________________________________
A BILL
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,
<DELETED>SECTION 1. SHORT TITLE.</DELETED>
<DELETED> This Act may be cited as the ``Global Investment in
American Jobs Act of 2025''.</DELETED>
<DELETED>SEC. 2. DEFINITIONS.</DELETED>
<DELETED> In this Act:</DELETED>
<DELETED> (1) Federal interagency investment working
group.--The term ``Federal Interagency Investment Working
Group'' means the Federal Interagency Investment Working Group
established by Executive Order 13577 (75 Fed. Reg. 35715;
relating to the establishment of the SelectUSA
Initiative).</DELETED>
<DELETED> (2) Responsible private sector entity.--The term
``responsible private sector entity'' means an entity that the
Secretary determines is--</DELETED>
<DELETED> (A) not organized under the laws of a
foreign adversary; and</DELETED>
<DELETED> (B) not owned, controlled, or otherwise
subject to the influence of a foreign
adversary.</DELETED>
<DELETED> (3) Secretary.--The term ``Secretary'' means the
Secretary of Commerce.</DELETED>
<DELETED> (4) Trusted country.--The term ``trusted country''
means a country that is not determined by the Secretary to be a
foreign adversary of the United States.</DELETED>
<DELETED>SEC. 3. SENSE OF CONGRESS.</DELETED>
<DELETED> It is the sense of Congress that--</DELETED>
<DELETED> (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;</DELETED>
<DELETED> (2) it is a top national priority to enhance the
global competitiveness, economic prosperity, and security of
the United States by--</DELETED>
<DELETED> (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;</DELETED>
<DELETED> (B) promoting policies to ensure the
United States remains the premier global destination to
invest, hire, innovate, provide services, and
manufacture products;</DELETED>
<DELETED> (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, and blockchain;
and</DELETED>
<DELETED> (D) promoting policies that maintain and
expand resilient supply chains and reduce the
dependence of the United States on supply chains from
China;</DELETED>
<DELETED> (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
enables the United States to open new markets abroad for United
States companies and their products;</DELETED>
<DELETED> (4) while foreign direct investment by responsible
private sector entities based in trusted countries can enhance
the economic strength of the United States, policies regarding
foreign direct investment should reflect security interests and
should not disadvantage domestic investors or
companies;</DELETED>
<DELETED> (5) the efforts of the United States 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;</DELETED>
<DELETED> (6) as digital information becomes increasingly
important to the economy of the United States and the
development of new technologies and services that will be
crucial to the competitiveness of the United States in the 21st
century global economy, barriers, including data localization
and infringement of intellectual property rights, must be
further addressed; and</DELETED>
<DELETED> (7) foreign direct investment by companies or
other entities owned, directed, supported, or influenced by the
Chinese Communist Party is a threat to the security of the
United States and merits an aggressive policy framework to
protect the interests, jobs, intellectual property, and
security of the United States.</DELETED>
<DELETED>SEC. 4. FOREIGN DIRECT INVESTMENT REVIEW.</DELETED>
<DELETED> (a) In General.--The Secretary and the Comptroller General
of United States, in consultation 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 from responsible private sector entities based in
trusted countries that addresses key foreign trade barriers that firms
in advanced technology sectors face in the global digital
economy.</DELETED>
<DELETED> (b) Specific Matters To Be Included.--The review conducted
under subsection (a) shall include a review of the following:</DELETED>
<DELETED> (1) The current economic impact of foreign direct
investment in the United States, with particular focus on
manufacturing, services, trade (with an emphasis on digital
trade), and jobs in the United States.</DELETED>
<DELETED> (2) Trends in global cross-border investment and
data flows and the underlying factors for those
trends.</DELETED>
<DELETED> (3) Federal Government policies that facilitate
foreign direct investment attraction and retention from
responsible private sector entities based in trusted
countries.</DELETED>
<DELETED> (4) Foreign direct investment compared to direct
investment by domestic entities.</DELETED>
<DELETED> (5) Foreign direct investment that takes the form
of greenfield investment compared to foreign direct investment
relating to merger and acquisition activity.</DELETED>
<DELETED> (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.</DELETED>
<DELETED> (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.</DELETED>
<DELETED> (8) How trusted countries are dealing with the
challenge of State-directed and State-supported investment and
whether there are opportunities to work with like-minded
countries to address that challenge.</DELETED>
<DELETED> (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.</DELETED>
<DELETED> (10) Innovative and noteworthy initiatives by
State and local government to attract foreign investment from
responsible private sector entities based in trusted
countries.</DELETED>
<DELETED> (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.</DELETED>
<DELETED> (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 firms located in the United States to develop
innovative technologies.</DELETED>
<DELETED> (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, country-specific standards for technology products,
and digital services.</DELETED>
<DELETED> (14) The adequacy of efforts by the Federal
Government to encourage and facilitate foreign direct
investment in the United States.</DELETED>
<DELETED> (15) Efforts by the Chinese Communist Party to
circumvent existing laws to gain access to--</DELETED>
<DELETED> (A) markets in the United
States;</DELETED>
<DELETED> (B) foreign direct investment in
responsible private sector entities based in trusted
countries; or</DELETED>
<DELETED> (C) intellectual property.</DELETED>
<DELETED> (c) Limitation.--The review conducted under subsection (a)
shall not address laws or policies relating to the Committee on Foreign
Investment in the United States.</DELETED>
<DELETED> (d) Public Comment.--</DELETED>
<DELETED> (1) Review.--Before the date on which the
Secretary begins the review required under subsection (a), the
Secretary shall--</DELETED>
<DELETED> (A) publish in the Federal Register notice
of the review; and</DELETED>
<DELETED> (B) provide an opportunity for public
comment on the matters to be covered by the
review.</DELETED>
<DELETED> (2) Submission.--Before the date on which the
Secretary submits the report required under subsection (e), the
Secretary shall--</DELETED>
<DELETED> (A) publish in the Federal Register the
proposed findings and recommendations contained in the
report; and</DELETED>
<DELETED> (B) provide an opportunity for public
comment.</DELETED>
<DELETED> (e) Report to Congress.--Not later than 1 year after the
date of enactment of this Act, the Secretary, in coordination with the
Federal Interagency Investment Working Group and the heads of other
relevant Federal departments and agencies, shall submit to Congress a
report on the findings of the review required under subsection (a) that
includes 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, labor, consumer,
financial, or environmental protections of the United States.</DELETED>
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Global Investment in American Jobs
Act of 2025''.
SEC. 2. DEFINITIONS.
In this Act:
(1) Foreign country of concern.--The term ``foreign country
of concern'' has the meaning given the term in section 9901 of
the William M. (Mac) Thornberry National Defense Authorization
Act for Fiscal Year 2021 (15 U.S.C. 4651).
(2) 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
country of concern; and
(B) not owned by, controlled by, or otherwise
subject to the influence of a foreign country of
concern.
(3) Secretary.--The term ``Secretary'' means the Secretary
of Commerce.
(4) Trusted country.--The term ``trusted country'' means a
country that is not a foreign country of concern.
SEC. 3. 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, the Internet of
Things, quantum computing, and blockchain; and
(D) promoting policies that maintain and expand
resilient supply chains and reduce the dependence of
the United States on supply chains from foreign
countries of concern;
(3) maintaining the commitment of the United States to an
open investment policy with private sector entities based in
trusted countries 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 by responsible private
sector entities based in trusted countries can enhance the
economic strength of the United States, policies regarding
foreign direct investment should reflect security interests;
(5) the efforts of the United States 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;
(6) as digital information becomes increasingly important
to the economy of the United States and the development of new
technologies and services that will be crucial to the
competitiveness of the United States in the 21st century global
economy, barriers, including data localization and infringement
of intellectual property rights, must be further addressed; and
(7) foreign direct investment by companies or other
entities owned, directed, supported, or influenced by a foreign
country of concern is a threat to the security of the United
States and merits an aggressive policy framework to protect the
interests, jobs, intellectual property, and security of the
United States.
SEC. 4. FOREIGN DIRECT INVESTMENT REVIEW.
(a) In General.--The Secretary and the Comptroller General of the
United States, in consultation with relevant interagency working groups
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 from responsible
private sector entities based in trusted countries that addresses 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 under
subsection (a) shall include a review of the following:
(1) The current economic impact of foreign direct
investment in the United States, with particular focus on
manufacturing, services, trade (with an emphasis on digital
trade), and jobs in the United States.
(2) Trends in global cross-border investment and data flows
and the underlying factors for those 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 compared to direct investment
by domestic entities.
(5) Foreign direct investment that takes the form of
greenfield investment 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 foreign countries
of concern.
(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 foreign
countries of concern, with a particular focus on investments
relating to manufacturing, services, trade (with an emphasis on
digital trade), and jobs.
(8) How trusted countries are dealing with the challenge of
state-directed and state-supported investment from foreign
countries of concern and whether there are opportunities to
work with like-minded countries to address that 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 governments to attract foreign investment from
responsible private sector entities based in trusted countries.
(11) Initiatives by other trusted countries to identify
best practices for increasing global competitiveness in
attracting foreign direct investment from responsible private
sector entities based in other 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 of firms located in the United States to develop
innovative technologies, especially when those policies arise
from foreign countries of concern.
(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, 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--
(A) markets in the United States;
(B) foreign direct investment in responsible
private sector entities based in trusted countries; or
(C) intellectual property.
(c) Limitation.--The review conducted under subsection (a) shall
not address laws or policies relating to the Committee on Foreign
Investment in the United States.
(d) Public Comment.--
(1) Review.--Before the date on which the Secretary begins
the review required under subsection (a), the Secretary shall--
(A) publish in the Federal Register notice of the
review; and
(B) provide an opportunity for public comment on
the matters to be covered by the review.
(2) Submission.--Before the date on which the Secretary
submits the report required under subsection (e), the Secretary
shall--
(A) publish in the Federal Register the proposed
findings and recommendations contained in the report;
and
(B) provide an opportunity for public comment.
(e) Report to Congress.--Not later than 1 year after the date of
enactment of this Act, the Secretary, in coordination with relevant
interagency working groups and the heads of relevant Federal
departments and agencies, shall submit to Congress a report on the
findings of the review required under subsection (a) that includes
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, labor, consumer, financial, or environmental
protections of the United States.
Calendar No. 356
119th CONGRESS
2d Session
S. 2563
[Report No. 119-116]
_______________________________________________________________________
A BILL
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.
_______________________________________________________________________
March 12, 2026
Reported with an amendment