[Congressional Record Volume 170, Number 113 (Tuesday, July 9, 2024)]
[Senate]
[Pages S4303-S4304]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 2107. Mr. ROMNEY (for himself, Ms. Cortez Masto, Mr. Lankford, Mr. 
Brown, Mr. Cornyn, and Mr. Young) submitted an amendment intended to be 
proposed by him to the bill S. 4638, to authorize appropriations for 
fiscal year 2025 for military activities of the Department of Defense, 
for military construction, and for defense activities of the Department 
of Energy, to prescribe military personnel strengths for such fiscal 
year, and for other purposes; which was ordered to lie on the table; as 
follows:

       At the end of subtitle D of title XII, add the following:

     SEC. 1266. REPORT ON ECONOMIC INTEGRATION BETWEEN THE UNITED 
                   STATES AND THE PEOPLE'S REPUBLIC OF CHINA AND 
                   RISKS TO THE NATIONAL SECURITY OF THE UNITED 
                   STATES.

       (a) In General.--Not later than one year after the date of 
     the enactment of this Act, and every 3 years thereafter for 
     15 years, the President, acting through the Director of the 
     Office of Management and Budget (in this section referred to 
     as the ``Director'' ), and in consultation with the officials 
     specified in subsection (c), shall submit to Congress a 
     report on--
       (1) the state of economic integration between the United 
     States and the People's Republic of China; and
       (2) the risks that integration poses to the national 
     security interests of the United States.
       (b) Elements.--Each report required by subsection (a) shall 
     include the following:
       (1) An assessment of the current level of economic 
     integration between the United States and the People's 
     Republic of China in each priority sector.
       (2) An assessment of how economic integration between the 
     United States and the People's Republic of China has changed 
     since 2000, and is predicted to change during the 3 years 
     following submission of the report, for each priority sector.
       (3) An analysis of the extent to which the degree of 
     current or predicted economic integration between the United 
     States and the People's Republic of China in each priority 
     sector presents significant risks to the national security of 
     the United States. The

[[Page S4304]]

     analysis with respect to each such sector shall address the 
     following:
       (A) The sector's reliance on entities organized under the 
     laws of, or otherwise subject to the jurisdiction of, the 
     People's Republic of China, including entities owned or 
     controlled by the Government of the People's Republic of 
     China, for foreign direct investment and other sources of 
     financial capital.
       (B) The sector's reliance on supply chains that have a 
     significant dependence on products or processes based in the 
     People's Republic of China.
       (C) An assessment of the risks of intellectual property 
     theft or economic espionage by individuals or entities linked 
     to or subject to the control of the Government of the 
     People's Republic of China or the Chinese Communist Party.
       (D) An assessment of the risks to the defense industrial 
     base of the United States.
       (E) An assessment of the risks posed by the use of 
     subsidies and the dumping of goods into the customs territory 
     of the United States by entities in the People's Republic of 
     China, including entities owned or controlled by the 
     Government of the People's Republic of China.
       (4) Recommendations for steps the United States Government 
     should take to mitigate the risks identified under paragraph 
     (3).
       (5) Any other information the Director considers 
     appropriate.
       (c) Officials Specified.--The officials specified in this 
     subsection are the following:
       (1) The Secretary of State.
       (2) The Secretary of the Treasury.
       (3) The Secretary of Defense.
       (4) The Attorney General.
       (5) The Secretary of the Interior.
       (6) The Secretary of Commerce.
       (7) The Secretary of Health and Human Services.
       (8) The Secretary of Energy.
       (9) The Secretary of Homeland Security.
       (10) The United States Trade Representative.
       (11) The Director of National Intelligence.
       (12) The Director of the National Science Foundation.
       (13) The head of any other agency the Director considers 
     appropriate.
       (d) Consultation Authority.--In developing a report 
     required by subsection (a), the Director may consult with any 
     nongovernmental entity that the Director considers necessary.
       (e) Form of Report.--Each report required by subsection (a) 
     shall be submitted to Congress in unclassified form but may 
     include a classified annex.
       (f) Applicability of FOIA.--Nothing in this section, or in 
     a report required by subsection (a), shall be construed to 
     allow the disclosure of information or a record that is 
     exempt from public disclosure under section 552 of title 5, 
     United States Code (commonly known as the ``Freedom of 
     Information Act'').
       (g) Applicability of Paperwork Reduction Act.--Subchapter I 
     of chapter 35 of title 44, United States Code (commonly known 
     as the ``Paperwork Reduction Act''), shall not apply to this 
     section.
       (h) Priority Sector Defined.--In this section, the term 
     ``priority sector'' means one of the following elements of an 
     economy:
       (1) Financial services.
       (2) Critical minerals (as defined in section 7002(a) of the 
     Energy Act of 2020 (30 U.S.C. 1606(a))), including rare-earth 
     elements, that the Secretary of Defense determines to be 
     important to the national security of the United States.
       (3) Semiconductors and microelectronics.
       (4) Artificial intelligence.
       (5) Communications, including telecommunications, social 
     media applications, satellites and other space-based systems, 
     and undersea cables.
       (6) Quantum computing.
       (7) Cloud-based systems, including computing services and 
     data storage.
       (8) Biotechnology.
       (9) Pharmaceuticals and medical technology, including 
     medical devices.
       (10) Manufacturing processes, particularly casting, 
     machining, joining, and forming.
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