[Congressional Record Volume 152, Number 105 (Wednesday, August 2, 2006)]
[Senate]
[Page S8603]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                          STRENGTHENING CFIUS

  Mr. BINGAMAN. Mr. President, I rise today to express my support for 
this Chamber's efforts to strengthen our CFIUS process--a system of 
screening foreign investment to make sure our national security is not 
compromised. In light of recent concerns about investments that did not 
receive adequate scrutiny, I think is imperative that we review this 
process and improve upon it where needed. It is important, however, 
that we do not modify the process in such a way that we create a system 
that unnecessarily discourages companies from investing in the United 
States. In order for our country to maintain our competitive advantage, 
we must make sure that we continue to be the worldwide choice of 
location for businesses. Although we have passed legislation out of the 
Senate intended to strengthen CFIUS, this legislation did not have the 
benefit of floor debate. I encourage the chairman of the Banking 
Committee, Senator Shelby, to continue to solicit the views of the 
Members of this Chamber and address concerns that may be raised about 
the impact on direct investment before we begin to conference with the 
House on the measure.

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