Congressman Greg Pence (IN-06) and Energy Subcommittee Chairman Bobby Rush (IL-01) introduced H.R. 2907, the bipartisan Global Investment in American Jobs Act to ensure the United States remains the premier destination to invest, hire, innovate and manufacture products.
This legislation seeks to enhance the global competitiveness, prosperity, and security of the United States by conducting an interagency review of our ability to attract foreign direct investment.
“There is no such thing as too much investment in the United States. As we see countries around us looking to outpace our economy and chip away at our hold as a major global leader on the world stage – this legislation seeks to ensure we are not leaving anything on the table,” said Congressman Pence in a media release. “I am pleased to introduce this bipartisan legislation that has the opportunity to bring jobs here to the U.S. and boost the economy – a bill that would be especially advantageous to Hoosiers in Indiana’s Sixth Congressional District and many other areas across the nation who are already benefitting from these kinds of global investments.”
“Foreign investment is critical to securing America’s position as a global leader,” said Rep. Cathy McMorris Rodgers, Ranking Member of the House Committee on Energy and Commerce. “The Global Investment American Jobs Act will enhance America’s competitiveness for foreign direct investment – particularly in emerging technologies – by helping to reduce investment barriers while protecting against challenges posed by state-owned or backed enterprises, like those originating in China. By encouraging foreign direct investment in our country, America will create jobs, beat China, and win the future.”
If enacted, this legislation would direct the Secretary of Commerce to conduct an interagency review with relevant federal departments and agencies to determine:
- U.S. competitiveness in attracting foreign investments
- How the federal government can reduce bureaucratic barriers to further investments
- Trends in global cross-border investment and date flows for information transfer between countries
- Challenges posed by state-owned entities and the impact of their protectionist policies