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[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2052 Introduced in House (IH)]

113th CONGRESS
  1st Session
                                H. R. 2052

To direct the Secretary of Commerce, in coordination with the heads of 
    other relevant Federal departments and agencies, to conduct an 
 interagency review of and report to Congress on ways to increase the 
   global competitiveness of the United States in attracting foreign 
                           direct investment.

_______________________________________________________________________

                    IN THE HOUSE OF REPRESENTATIVES

                              May 20, 2013

 Mr. Terry (for himself, Ms. Schakowsky, Mr. Roskam, and Mr. Barrow of 
   Georgia) introduced the following bill; which was referred to the 
                    Committee on Energy and Commerce

_______________________________________________________________________

                                 A BILL

 
To direct the Secretary of Commerce, in coordination with the heads of 
    other relevant Federal departments and agencies, to conduct an 
 interagency review of and report to Congress on ways to increase the 
   global competitiveness of the United States in attracting foreign 
                           direct investment.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Global Investment in American Jobs 
Act of 2013''.

SEC. 2. FINDINGS.

    Congress finds the following:
            (1) It remains an urgent national priority to improve 
        economic growth and create new jobs.
            (2) National security requires economic strength and global 
        engagement.
            (3) Businesses today have a wide array of choices when 
        considering where to invest, expand, or establish new 
        operations.
            (4) Administrations of both parties have consistently 
        reaffirmed the need to promote an open investment climate as a 
        key to domestic economic prosperity and security.
            (5) The United States has historically been the largest 
        worldwide recipient of foreign direct investment but has seen 
        its share decline in recent years.
            (6) The United States faces increasing competition from 
        other countries as it works to recruit investment from global 
        companies.
            (7) Foreign direct investment can benefit the economy and 
        workforce of every State and Commonwealth in the United States.
            (8) According to the latest Federal statistics, the United 
        States subsidiaries of companies headquartered abroad 
        contribute to the United States economy in a variety of 
        important ways, including by--
                    (A) providing jobs for an estimated 5,600,000 
                Americans, with compensation that is often higher than 
                the national private-sector average, as many of these 
                jobs are in high-skilled, high-paying industries;
                    (B) strengthening the United States industrial base 
                and employing nearly 15 percent of the United States 
                manufacturing sector workforce;
                    (C) establishing operations in the United States 
                from which to sell goods and services around the world, 
                thereby producing nearly 18 percent of United States 
                exports;
                    (D) promoting innovation with more than 
                $41,000,000,000 in annual United States research and 
                development activities;
                    (E) paying nearly 14 percent of United States 
                corporate income taxes; and
                    (F) purchasing goods and services from local 
                suppliers and small businesses worth hundreds of 
                billions of dollars annually.
            (9) These companies account for 5.8 percent of United 
        States private sector gross domestic product.
            (10) The Department of Commerce has initiatives in place to 
        increase foreign direct investment.
            (11) The President issued a statement in 2011 reaffirming 
        the longstanding open investment policy of the United States 
        and encouraged all countries to pursue such a policy.
            (12) The President signed an Executive order in 2011 to 
        establish the SelectUSA initiative and expanded its resources 
        and activities in 2012, so as to promote greater levels of 
        business investment in the United States.
            (13) The President's Council on Jobs and Competitiveness in 
        2011 recommended the establishment of a National Investment 
        Initiative to attract $1,000,000,000,000 in foreign direct 
        investment over five years.
            (14) Sound transportation infrastructure, a well-educated 
        and healthy workforce, safe food and water, stable financial 
        institutions, a fair and equitable justice system, and 
        transparent and accountable administrative procedures are 
        important factors that contribute to United States global 
        competitiveness.

SEC. 3. SENSE OF CONGRESS.

    It is the sense of Congress that--
            (1) the ability of the United States to attract foreign 
        direct investment is directly linked to the long-term economic 
        prosperity, global competitiveness, and security of the United 
        States;
            (2) it is a top national priority to enhance the global 
        competitiveness, prosperity, and security of the United States 
        by--
                    (A) removing unnecessary barriers to foreign direct 
                investment and the jobs that it creates throughout the 
                United States; and
                    (B) promoting policies to ensure the United States 
                remains the premier global destination in which to 
                invest, hire, innovate, and manufacture products;
            (3) maintaining the United States commitment to open 
        investment policy encourages other countries to reciprocate and 
        enables the United States to open new markets abroad for United 
        States companies and their products;
            (4) while foreign direct investment can enhance the 
        Nation's economic strength, policies regarding foreign direct 
        investment should also reflect national security interests and 
        should not disadvantage domestic investors or companies; and
            (5) United States efforts to attract foreign direct 
        investment should be consistent with efforts to maintain and 
        improve the domestic standard of living.

SEC. 4. FOREIGN DIRECT INVESTMENT REVIEW.

    (a) Review.--The Secretary of Commerce, in coordination with the 
Federal Interagency Investment Working Group and the heads of other 
relevant Federal departments and agencies, shall conduct an interagency 
review of the global competitiveness of the United States in attracting 
foreign direct investment.
    (b) Specific Matters To Be Included.--The review conducted pursuant 
to subsection (a) shall include a review of--
            (1) the current economic impact of foreign direct 
        investment in the United States, including both costs and 
        benefits, with particular focus on manufacturing, research and 
        development, trade, and jobs;
            (2) trends in global cross-border investment flows and the 
        underlying factors for such trends;
            (3) Federal Government policies that are closely linked to 
        the ability of the United States to attract and retain foreign 
        direct investment;
            (4) foreign direct investment as compared to direct 
        investment by domestic entities;
            (5) foreign direct investment that takes the form of 
        greenfield investment as compared to foreign direct investment 
        reflecting merger and acquisition activity;
            (6) the unique challenges posed by foreign direct 
        investment by state-owned enterprises;
            (7) ongoing Federal Government efforts to improve the 
        investment climate and facilitate greater levels of foreign 
        direct investment in the United States;
            (8) innovative and noteworthy State, regional, and local 
        government initiatives to attract foreign investment; and
            (9) initiatives by other countries in order to identify 
        best practices for attracting foreign direct investment.
    (c) Limitation.--The review conducted pursuant to subsection (a) 
shall not address laws or policies relating to the Committee on Foreign 
Investment in the United States.
    (d) Public Comment Period.--Prior to--
            (1) conducting the review under subsection (a), the 
        Secretary shall publish notice of the review in the Federal 
        Register and shall provide an opportunity for public comment on 
        the matters to be covered by the review; and
            (2) reporting pursuant to subsection (e), the Secretary 
        shall publish the proposed findings and recommendations to 
        Congress in the Federal Register and shall provide an 
        opportunity for public comment.
    (e) Report to Congress.--Not later than one year after the date of 
enactment of this Act, the Secretary of Commerce shall report to 
Congress the findings of the review and submit recommendations for 
increasing the global competitiveness of the United States without 
weakening labor, consumer, financial, or environmental protections.
                                 <all>
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