II 

113TH CONGRESS 

1ST SESSION S. 1023 

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 on ways to increase the competitiveness 

of the United States in attracting foreign direct investment. 

IN THE SENATE OF THE UNITED STATES 

MAY 22, 2013 

Mr. CORKER (for himself, Ms. KLOBUCHAR, Mr. BLUNT, and Mrs. HAGAN) 

introduced the following bill; which was read twice and referred to the 

Committee on Commerce, Science, and Transportation 

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 

on ways to increase the competitiveness of the United 

States in attracting foreign direct investment. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Global Investment in 

5 American Jobs Act of 2013’’. 

6 SEC. 2. FINDINGS. 

7 Congress finds the following: 


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1 (1) It remains an urgent national priority to 

2 improve economic growth and create new jobs. 

3 (2) National security requires economic 

4 strength and global engagement. 

5 (3) Businesses today have a wide array of 

6 choices when considering where to invest, expand, or 

7 establish new operations. 

8 (4) Administrations of both parties have con9 sistently reaffirmed the need to maintain an open in10 vestment climate as a key to domestic economic 

11 prosperity and security. 

12 (5) The United States has historically been the 

13 largest worldwide recipient of foreign direct invest14 ment but has seen its share decline in recent years. 

15 (6) The United States faces increasing competi16 tion from other countries as they work to recruit in17 vestment from global companies. 

18 (7) Foreign direct investment can benefit the 

19 economy and workforce of every State and Common20 wealth in the United States. 

21 (8) According to the latest Federal statistics, 

22 the United States subsidiaries of companies 

23 headquartered abroad contribute to the United 

24 States economy in a variety of important ways, in25 cluding by— 


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1 (A) providing jobs for nearly 5,600,000 

2 people in the United States with compensation 

3 that is often higher than the national private4 sector average, as many of these jobs are in 

5 high-skilled, high-paying industries; 

6 (B) strengthening the United States indus7 trial base and employing nearly 15 percent of 

8 the United States manufacturing sector work9 force; 

10 (C) establishing operations in the United 

11 States from which to sell goods and services 

12 around the world, thereby producing nearly 18 

13 percent of United States exports; 

14 (D) promoting innovation with more than 

15 $41,000,000,000 in annual United States re16 search and development activities; 

17 (E) paying nearly 14 percent of United 

18 States corporate income taxes; and 

19 (F) purchasing goods and services from 

20 local suppliers and small businesses, worth hun21 dreds of billions of dollars annually. 

22 (9) These companies account for 5.8 percent of 

23 United States private sector Gross Domestic Prod24 uct (GDP). 


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1 (10) The Department of Commerce and the De2 partment of State have initiatives in place to in3 crease foreign direct investment. 

4 (11) President Barack Obama issued a state5 ment in 2011 reaffirming the longstanding open in6 vestment policy of the United States and encouraged 

7 all countries to pursue such a policy. 

8 (12) President Obama signed an Executive 

9 order in 2011 to establish the SelectUSA initiative 

10 and expanded its resources and activities in 2012, 

11 aimed at promoting greater levels of business invest12 ment in the United States. 

13 (13) The President’s Council on Jobs and Com14 petitiveness in 2011 recommended the establishment 

15 of a National Investment Initiative to attract 

16 $1,000,000,000,000 in foreign direct investment 

17 over five years. 

18 SEC. 3. SENSE OF CONGRESS. 

19 It is the sense of Congress that— 

20 (1) the ability of the United States to attract 

21 foreign direct investment is directly linked to the 

22 long-term economic prosperity, global competitive23 ness, and security of the United States; 

24 (2) in order to remain the most attractive loca25 tion for foreign direct investment, Congress should 


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1 be mindful of the potential impact upon the ability 

2 of the United States to attract foreign direct invest3 ment when evaluating proposed legislation; 

4 (3) it is a top national priority to enhance the 

5 competitiveness, prosperity, and security of the 

6 United States by— 

7 (A) removing unnecessary barriers to for8 eign direct investment and the jobs that it cre9 ates throughout the United States; and 

10 (B) promoting policies to ensure the 

11 United States remains the premier global des12 tination in which to invest, hire, innovate, and 

13 manufacture their products; 

14 (4) maintaining the United States commitment 

15 to open investment policy encourages other countries 

16 to do the same and enables the United States to 

17 open new markets abroad for United States compa18 nies and their products; and 

19 (5) while foreign direct investment can enhance 

20 the economic strength of the United States, policies 

21 regarding foreign direct investment should reflect 

22 national security interests and should not disadvan23 tage domestic investors or companies. 


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1 SEC. 4. FOREIGN DIRECT INVESTMENT REVIEW. 

2 (a) REVIEW.—The Secretary of Commerce, in coordi3 nation with the Federal Interagency Investment Working 

4 Group and the heads of other relevant Federal depart5 ments and agencies, shall conduct an interagency review 

6 of the global competitiveness of the United States in at7 tracting foreign direct investment. 

8 (b) SPECIFIC MATTERS TO BE INCLUDED.—The re9 view conducted pursuant to subsection (a) shall include 

10 a review of— 

11 (1) the current economic impact of foreign di12 rect investment in the United States, with particular 

13 focus on manufacturing, research and development, 

14 trade, and jobs; 

15 (2) trends in global cross-border investment 

16 flows, including an assessment of the current United 

17 States competitive position as an investment location 

18 for companies headquartered abroad; 

19 (3) Federal Government policies that are closely 

20 linked to the ability of the United States to attract 

21 and retain foreign direct investment; 

22 (4) ongoing Federal Government efforts to im23 prove the investment climate, reduce investment bar24 riers, and facilitate greater levels of foreign direct 

25 investment in the United States; 


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1 (5) innovative and noteworthy State, regional, 

2 and local government initiatives to attract foreign in3 vestment; and 

4 (6) initiatives by other countries in order to 

5 identify best practices for increasing global competi6 tiveness in attracting foreign direct investment. 

7 (c) LIMITATION.—The review conducted pursuant to 

8 subsection (a) shall not address laws and policies relating 

9 to the Committee on Foreign Investment in the United 

10 States. 

11 (d) PUBLIC COMMENT.—Prior to— 

12 (1) conducting the review under subsection (a), 

13 the Secretary shall publish notice of the review in 

14 the Federal Register and shall provide an oppor15 tunity for public comment on the matters to be cov16 ered by the review; and 

17 (2) reporting pursuant to subsection (e), the 

18 Secretary shall publish the proposed findings and 

19 recommendations to Congress in the Federal Reg20 ister and shall provide an opportunity for public 

21 comment. 

22 (e) REPORT TO CONGRESS.—Not later than one year 

23 after the date of the enactment of this Act, the Secretary 

24 of Commerce, in coordination with the Federal Inter25 agency Investment Working Group and the heads of other 


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1 relevant Federal departments and agencies, shall report 

2 to Congress the findings of the review required under sub3 section (a) and submit recommendations to make the 

4 United States more competitive in attracting foreign di5 rect investment without undermining fundamental domes6 tic labor, consumer, or environmental protections. 

Æ 


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