Senator Aims for Action on Outbound Investment Bill in Weeks
Sen. John Cornyn, R-Texas, said March 14 that he hopes the full Senate will consider his bill to restrict outbound investment in China “in the next few weeks.”
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Cornyn said he has been talking with Senate Majority Leader John Thune, R-S.D., about potential time frames for taking up the bill, which has been years in the making and is co-sponsored by a bipartisan group of 12 senators. “I think we’re ready for the floor,” Cornyn told Export Compliance Daily.
The Foreign Investment Guardrails to Help Thwart China Act, or FIGHT China Act, which Cornyn introduced March 13, would establish a Treasury Department program to prohibit U.S. investment in certain sensitive technologies in China, including advanced semiconductors, certain artificial intelligence models, quantum computers, and materials used in hypersonic systems (see 2503130059).