U.S. GOVERNMENT PRINTING OFFICE

WASHINGTON : 

1 

39–010 

" ! SENATE 113TH CONGRESS

2d Session 

REPORT 

2014

113–252 

Calendar No. 557 

GLOBAL INVESTMENT IN AMERICAN JOBS 

ACT OF 2013 

R E P O R T 

OF THE

COMMITTEE ON COMMERCE, SCIENCE, AND 

TRANSPORTATION 

ON

H. R. 2052 

SEPTEMBER 10, 2014.—Ordered to be printed 


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(II) 

SENATE COMMITTEE ON COMMERCE, SCIENCE, AND TRANSPORTATION 

ONE HUNDRED THIRTEENTH CONGRESS

SECOND SESSION

JOHN D. ROCKEFELLER IV, West Virginia, Chairman 

BARBARA BOXER, California JOHN THUNE, South Dakota 

BILL NELSON, Florida ROGER F. WICKER, Mississippi 

MARIA CANTWELL, Washington ROY BLUNT, Missouri 

MARK PRYOR, Arkansas MARCO RUBIO, Florida 

CLAIRE MCCASKILL, Missouri KELLY AYOTTE, New Hampshire 

AMY KLOBUCHAR, Minnesota DEAN HELLER, Nevada 

MARK BEGICH, Alaska DANIEL COATS, Indiana 

RICHARD BLUMENTHAL, Connecticut TIM SCOTT, South Carolina 

BRIAN SCHATZ, Hawaii TED CRUZ, Texas 

ED MARKEY, Massachusetts DEB FISCHER, Nebraska 

CORY BOOKER, New Jersey RON JOHNSON, Wisconsin 

JOHN WALSH, Montana 

ELLEN DONESKI, Staff Director 

JOHN WILLIAMS, General Counsel 

DAVID SCHWIETERT, Republican Staff Director 

NICK ROSSI, Republican Deputy Staff Director 

REBECCA SEIDEL, Republican General Counsel 


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Calendar No. 557 

113TH CONGRESS REPORT " ! SENATE 2d Session 113–252 

GLOBAL INVESTMENT IN AMERICAN JOBS ACT OF 2013 

SEPTEMBER 10, 2014.—Ordered to be printed 

Mr. ROCKEFELLER, from the Committee on Commerce, Science, and 

Transportation, submitted the following 

R E P O R T 

[To accompany H. R. 2052] 

The Committee on Commerce, Science, and Transportation, to 

which was referred the bill (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, having 

considered the same, reports favorably thereon without amendment 

and recommends that the bill do pass. 

PURPOSE OF THE BILL

The purpose of H.R. 2052, the Global Investment in American 

Jobs Act of 2013, is to encourage foreign direct investment (FDI) 

in the United States by directing the Department of Commerce, in 

conjunction with other Federal agencies and departments, to conduct an interagency review of ways to increase the country’s competitiveness in attracting FDI from businesses around the world. 

BACKGROUND AND NEEDS

FDI is investment by a foreign company in an affiliate company 

located in the United States. Such investment is a key component 

of the American economy. The American subsidiaries of companies 

headquartered abroad employ over 5 million American workers, including more than 2 million manufacturing workers, and produce 

nearly 18 percent of U.S. exports. However, from 1999 to 2009, the 

U.S. share of global investment declined substantially as other 

countries began to attract investment at higher rates. 


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The Global Investment in American Jobs Act of 2013 would aim 

to increase FDI and regain this lost ground by recognizing the intense global competition for FDI and the United States’ declining 

share of the world’s invested capital. The bill would express the 

Sense of Congress that it is a top priority to enhance the Nation’s 

competitiveness, prosperity, and security by ensuring the United 

States remains the premier global destination in which to invest, 

hire, innovate, and manufacture. The legislation would also task 

the Department of Commerce with assessing U.S. competitiveness 

for attracting FDI, producing a review of policies at the Federal 

level that are closely linked to the ability to attract FDI, and making recommendations to ensure that the laws, regulations, and policies of the United States are properly aligned to give confidence to 

investors to create American jobs. The review would be conducted 

in coordination with the Federal Interagency Investment Working 

Group, established by section 2(d) of Executive Order 13577, and 

the heads of other relevant Federal departments and agencies. 

SUMMARY OF PROVISIONS

H.R. 2052 would direct the Secretary of Commerce, in coordination with other Federal agencies and departments, to conduct an 

interagency review of ways to increase the country’s competitiveness in attracting FDI from businesses around the world. The legislation would allow opportunity for public comment and would require the Department of Commerce to issue a report to Congress 

on its findings and recommendations for increasing FDI without 

weakening labor, consumer, financial, or environmental protections. 

LEGISLATIVE HISTORY

Representative Lee Terry introduced H.R. 2052 on May 20, 2013, 

with Representatives John Barrow, Peter J. Roskam, and Janice D. 

Schakowsky as original cosponsors. Senators Corker, Blunt, Hagan, 

and Klobuchar introduced a Senate companion, S. 1023, on May 22, 

2013. The House Energy and Commerce Committee ordered H.R. 

2052 to be reported as amended by unanimous consent on July 17, 

2013, and the full House of Representatives passed the bill on September 9, 2013, by a vote of 379 to 32. 

On April 9, 2014, in an open Executive Session, the Committee 

considered the bill and reported H.R. 2052 favorably by voice vote. 

ESTIMATED COSTS

In accordance with paragraph 11(a) of rule XXVI of the Standing 

Rules of the Senate and section 403 of the Congressional Budget 

Act of 1974, the Committee provides the following cost estimate, 

prepared by the Congressional Budget Office: 

H.R. 2052—Global Investment in American Jobs Act of 2013 

H.R. 2052 would direct the Secretary of Commerce, in coordination with other relevant agencies, to review the competitiveness of 

the United States in attracting investment by foreign businesses. 

Within one year of enactment of the bill, the Secretary would be 

required to report to the Congress the results of the review as well 


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as recommendations for increasing the United States’ ability to attract foreign investment. 

Based on information from the Department of Commerce, CBO 

estimates that, assuming the availability of appropriated funds, implementing H.R. 2052 would cost about $1 million over the 2015– 

2019 period to conduct the review and prepare the report. Enacting 

H.R. 2052 would not affect direct spending or revenues; therefore, 

pay-as-you-go procedures do not apply. 

H.R. 2052 contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act and would 

not affect the budgets of state, local, or tribal governments. 

On July 24, 2013, CBO transmitted a cost estimate for H.R. 2052 

as ordered reported by the House Committee on Energy and Commerce on July 17, 2013. The House and Senate versions of the legislation are identical and the CBO cost estimates are the same. 

The CBO staff contact for this estimate is Susan Willie. The estimate was approved by Theresa Gullo, Deputy Assistant Direct for 

Budget Analysis. 

REGULATORY IMPACT

In accordance with paragraph 11(b) of rule XXVI of the Standing 

Rules of the Senate, the Committee provides the following evaluation of the regulatory impact of the legislation, as reported: 

NUMBER OF PERSONS COVERED

H.R. 2052 would direct the Department of Commerce to work 

with other Federal agencies and departments to report on ways to 

increase FDI to the United States, and it would not impact any additional entities. 

ECONOMIC IMPACT

This legislation is not expected to have an adverse economic impact on the Nation. 

PRIVACY

H.R. 2052 would not have a negative impact on the personal privacy of individuals. 

PAPERWORK

H.R. 2052 would create new reporting requirements for the Department of Commerce. Not later than one year after the date of 

enactment, the Secretary of Commerce would be required to submit 

to Congress a report of the findings of the interagency review and 

of recommendations for increasing the global competitiveness of the 

United States in attracting FDI without weakening labor, consumer, financial, or environmental protections. 

CONGRESSIONALLY DIRECTED SPENDING

In compliance with paragraph 4(b) of rule XLIV of the Standing 

Rules of the Senate, the Committee provides that no provisions 

contained in the bill, as reported, meet the definition of congressionally directed spending items under the rule. 


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SECTION-BY-SECTION ANALYSIS

Section 1. Short title 

This section would establish the title of the bill as the Global Investment in American Jobs Act of 2013. 

Section 2. Findings 

This section would include findings on the urgent nature of the 

need to improve economic growth and create jobs, as well as the 

potential for FDI to play a role in accomplishing these goals. 

Section 3. Sense of Congress 

This section would provide the Sense of Congress in support of 

the need to attract FDI to enhance the country’s economic security 

and global competitiveness. 

Section 4. Foreign direct investment review 

Subsection (a) would require the Secretary of Commerce to conduct an interagency review of the global competitiveness of the 

United States in attracting FDI. The review would be conducted in 

coordination with the Federal Interagency Investment Working 

Group and the heads of other relevant Federal departments and 

agencies. 

Subsection (b) would mandate that the review include several 

specific facets of FDI. The review would be required to include assessments of: (1) the current economic impact of FDI in the United 

States; (2) trends in global cross-border investment flows; (3) Federal policies that are closely linked to the ability to attract FDI; (4) 

FDI as compared to direct investment by domestic entities; (5) 

‘‘greenfield’’ FDI, in which foreign investors create a new, productive unit, as compared to FDI reflecting merger-and-acquisition activity; (6) the unique challenges posed by FDI by state-owned enterprises; (7) ongoing Federal efforts to facilitate greater levels of 

FDI; (8) innovative State, regional, and local efforts to attract FDI; 

and (9) initiatives by other countries to attract FDI in order to 

identify best practices. 

Subsection (c) would limit the scope of the review to exclude any 

consideration of laws or policies relating to the Committee on Foreign Investment in the United States (CFIUS). CFIUS is the interagency committee chaired by the Secretary of the Treasury that is 

responsible for assessing the national security consequences of 

transactions that could result in control of a U.S. business by a foreign person. 

Subsection (d) would call on the Secretary of Commerce to provide opportunity for public comment on the matters covered by the 

review. 

Subsection (e) would require the Secretary of Commerce to report 

to Congress the findings of the review and submit recommendations for making the United States more competitive in attracting 

FDI without weakening labor, consumer, financial, or environmental protections. 


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CHANGES IN EXISTING LAW

In compliance with paragraph 12 of rule XXVI of the Standing 

Rules of the Senate, the Committee states that the bill as reported 

would make no change to existing law. 

Æ 


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