Congress Might Tweak Outbound Investment Bill, Lawmaker Says
The Treasury and State departments are reviewing a recently introduced bill to restrict outbound investment in China, a key lawmaker said March 25.
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Any changes recommended by the Trump administration would likely be “fairly technical and minor” and could be incorporated through a “manager’s amendment,” said Rep. Andy Barr, R-Ky., who is sponsoring the bill on the House side. Manager’s amendments are typically approved easily.
Since the bill is “in sync” with the outbound investment memo the administration issued in February (see 2502240051), “I wouldn’t expect massive changes” to the legislation when the administration sends its input to Congress, Barr told Export Compliance Daily.
Barr and Sen. John Cornyn, R-Texas, introduced the Foreign Investment Guardrails to Help Thwart China Act, or Fight China Act, this month (see 2503240014 and 2503130059). Except for a name change, it is identical to legislation they offered near the end of the last Congress. The renamed bill was referred to the Senate Banking Committee and the House Foreign Affairs and Financial Services committees.