WASHINGTON, DC - Business Roundtable, The Financial Services Forum, the Organization for International Investment and the U.S. Chamber of Commerce issued the following statement on today's vote in the House of Representatives to pass H.R. 556, legislation reforming the Committee on Foreign Investment in the United States (CFIUS):

"The passage today of bipartisan CFIUS legislation is a victory for American jobs and a demonstration of how both parties can work together on legislation that will protect our national security while restoring certainty to the CFIUS process. We commend Chairman Frank, Ranking Member Bachus, Minority Whip Blunt and Representatives Maloney, Pryce, and Crowley for crafting a bill that strikes a critical balance between protecting national security and encouraging beneficial foreign investment. The bill recognizes the importance of foreign investment in the United States and the 5.1 million American jobs it supports. At the same time, it ensures that the President has the clear authority to block a foreign acquisition of a U.S. company to adequately and effectively protect our national security.

"We look forward to working with Senate Banking Committee Chairman Christopher Dodd, Ranking Member Richard Shelby, and Senate leadership as the Senate considers this issue. We encourage the Senate to act promptly on this key legislation."

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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