Business Groups Commend House Introduction of CFIUS Reforms to Enhance National Security and Stabilize Business Environment

Washington, D.C. - Four leading U.S. business groups today commended the introduction of bi-partisan legislation in the House that would reform the process for national security reviews of foreign acquisitions in the United States. The groups stressed the importance of restoring confidence in the review process employed by the Committee on Foreign Investment in the United States (CFIUS) and creating stability in a reliable system that business needs to be successful.

Business Roundtable, The Financial Services Forum, the Organization for International Investment and the U.S. Chamber of Commerce stated that the introduction of the House bill is a welcome step forward to resolving growing uncertainty in the CFIUS process. According to the groups, Congressional reforms will eliminate the problems that have led CFIUS staff to be overly cautious and make decisions on certain transactions that may discourage foreign investment in the future. The business groups believe that legislative changes taking prudent steps to safeguard our national security, while continuing to encourage foreign investment in the United States, is needed.

Foreign investment in the United States supports over 5 million American jobs with an annual payroll of $324.5 billion.

Together, Business Roundtable, The Financial Services Forum, the Organization for International Investment and the U.S. Chamber of Commerce represent a broad range of U.S. businesses employing tens of millions of Americans. The organizations recognize the critical importance of foreign investment to both the U.S. economy and to the over five million American jobs it supports.

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