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STATEMENT BY RANKING MEMBER SPENCER BACHUS (R-AL) REGARDING PASSAGE OF CFIUS REFORM BILL

WASHINGTON, Jul 11 -

"Today the House once again overwhelmingly passed legislation that reforms the way the Committee on Foreign Investment in the United States (CFIUS) assesses the safety and security consequences of proposed foreign investment in the United States economy.  The clarity this legislation brings should lead to greater foreign investment in America, investment that is essential to job creation and our economic prosperity going forward.

"This bipartisan legislation modernizes the way CFIUS does business, ensures that both our security and economic needs are met, and leaves the process fundamentally the same from the point of view of business.

"This is a good legislative product, and I am grateful to Chairman Frank, Rep. Roy Blunt (R-MO), Deborah Pryce (R-OH), and others for the leadership they brought to this issue."

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