WASHINGTON, D.C., December 18, 2024 — FDD Action (FDDA) today issued the following statement in support of the Comprehensive Outbound Investment National Security Act of 2024’s inclusion in the Continuing Resolution (CR). The provision addresses the growing threat posed by China’s economic and technological ambitions. China is leveraging foreign capital from the United States to expand its military capabilities in key areas while the Chinese Communist Party maintains a range of unfair trade practices that hurt American workers and industries.
The urgent passage of the CR with this provision is essential to safeguarding U.S. national security interests.
“China has consistently demonstrated its intent to exploit foreign investments to bolster sectors critical to its military buildup and foreign and domestic surveillance capabilities,” said FDD Action. “It is imperative that American capital and investment not empower the Chinese Communist Party’s efforts to undermine America’s security and economic prosperity.”
The Comprehensive Outbound Investment National Security Act of 2024 aims to bolster U.S. national security by regulating American investments that could enhance the military or technological capabilities of foreign adversaries, particularly China. This legislation introduces prohibitions and notification requirements for U.S. persons investing in critical sectors within countries of concern, such as semiconductors, quantum information technologies, and artificial intelligence. By expanding the scope of existing measures, the legislation seeks to prevent U.S. capital and expertise from contributing to advancements that may pose security risks. It improves upon recent executive actions by covering a wider range of emerging technologies and investment channels.
“This is a national security imperative. Congress must act decisively to close the gap in our investment framework to ensure U.S. investment no longer underwrites China’s military rise,” FDD Action added.
FDDA urges Members of Congress from both sides of the aisle to support the Comprehensive Outbound Investment National Security Act of 2024 as part of the CR.
About FDD Action:
FDD Action is a non-profit, non-partisan 501(c)(4) organization established to advocate for effective policies to promote U.S. national security and defend free nations. Founded in 2019, FDD Action combines policy analysis and direct advocacy to propose and support policy solutions to national security challenges confronting the United States and its allies.
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