The Treasury Department's new final rule for outbound investment received mixed reviews from Congress this week.
The Senate’s proposed Georgian People’s Act will be modified “if needed” to ensure those responsible for “fraud and manipulation” in the country's recent parliamentary elections “are held accountable,” Sens. Jeanne Shaheen, D-N.H., and Jim Risch, R-Idaho, said in a joint statement this week.
The leaders of the House Select Committee on China urged the Commerce Department this week to prevent American know-how and investment from supporting the development of China’s photonic semiconductor sector.
A Senate bill that would sanction Republic of Georgia officials for corruption, human rights abuses and anti-democratic efforts has gained additional support, said a spokesperson for Sen. Jeanne Shaheen, D-N.H., who introduced the bill in May.
After months of negotiations, House lawmakers remain hopeful they can reach a compromise on a bill to restrict outbound investment in China, House Financial Services Committee Chairman Rep. Patrick McHenry, R-N.C., said Oct. 25.
House Oversight Committee Chairman Rep. James Comer, R-Ky., and two other Republican lawmakers asked the Energy Department this week to clarify the status of its study on liquefied natural gas exports.
Rep. Gary Palmer, R-Ala., introduced legislation last week that would block a new Treasury Department rule that would make investment advisers subject to anti-money laundering and counter-terrorism financing requirements.
House Foreign Relations Committee Chairman Michael McCaul, R-Texas, urged the Biden administration Oct. 18 to give the Treasury and State departments additional resources, including personnel, to speed up implementation of the new sanctions authorities that were enacted into law almost six months ago.
Ten Republican lawmakers asked the Treasury Department Oct. 17 to explain why the Committee on Foreign Investment in the U.S. has apparently declined to review and block Chinese electric vehicle battery maker Gotion from building a plant near a military base in Michigan.
House Financial Services Committee Chairman Patrick McHenry, R-N.C., asked the Government Accountability Office Oct. 15 to determine whether the Financial Crimes Enforcement Network is adequately securing the information it collects through its new beneficial ownership information (BOI) reporting rule.