East Michigan News

Congressman John Moolenaar has recently introduced H.R. 5926, the Exposing China’s Belt and Road Investment in America Act of 2023. This bill aims to address concerns regarding Chinese investments in American real estate and their potential impact on national security. If passed, the legislation would require the federal Committee on Foreign Investment in the United States (CFIUS) to review any real estate investment made by a foreign individual that would result in the Chinese Communist Party's (CCP) direct or indirect control over a business.

In a statement, Congressman Moolenaar emphasized the need to prevent activities that could be harmful to the United States, particularly those orchestrated by the Chinese Communist Party. He stated, "The Chinese Communist Party is the No. 1 economic adversary of the United States. We can never allow federal officials to duck their responsibility to stop activities that are harmful to our country. These officials must examine and stop land purchases by CCP-affiliated individuals and companies." Moolenaar further expressed his pride in introducing this legislation, which he hopes will prompt CFIUS to take necessary action and prevent the CCP's efforts to acquire influence over America through land purchases and the establishment of factories.

Moolenaar, who serves as a member of the House Select Committee on the Strategic Competition with the Chinese Communist Party, has been actively advocating for stricter scrutiny of Chinese investments. He previously called on Treasury Secretary Janet Yellen and CFIUS to investigate a proposed plan by Gotion, a CCP-affiliated company, to build in Mecosta County. However, the Treasury Department responded, claiming that the project falls outside CFIUS's jurisdiction.

It is worth noting that the Exposing China's Belt and Road Investment in America Act has also been introduced in the U.S. Senate by Senators John Kennedy (R-LA) and Kevin Cramer (R-ND). This bipartisan effort highlights the growing concerns among lawmakers regarding China's economic influence in the United States.

If passed into law, this legislation could have significant implications for future Chinese investments in American land and businesses. By mandating CFIUS review and oversight, the bill aims to safeguard national security interests and protect against undue foreign influence. As discussions surrounding the bill continue, it remains to be seen how it will be received by Congress and what impact it may have on the ongoing economic competition between the United States and China.

Click this link to access more information: https://moolenaar.house.gov/media-center/press-releases/moolenaar-introduces-legislation-require-review-chinese-purchase