I 

117TH CONGRESS 

1ST SESSION H. R. 2907 

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 

APRIL 30, 2021 

Mr. PENCE (for himself and Mr. RUSH) 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. 

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 2021’’. 


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1 SEC. 2. SENSE OF CONGRESS. 

2 It is the sense of Congress that— 

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

4 foreign direct investment is directly linked to the 

5 long-term economic prosperity, global competitive6 ness, and security of the United States; 

7 (2) it is a top national priority to enhance the 

8 global competitiveness, prosperity, and security of 

9 the United States by— 

10 (A) removing unnecessary barriers to for11 eign direct investment and the jobs that such 

12 investment creates throughout the United 

13 States; 

14 (B) promoting policies to ensure the 

15 United States remains the premier global des16 tination to invest, hire, innovate, provide serv17 ices and manufacture products; and 

18 (C) promoting policies to ensure the 

19 United States remains the global leader in de20 veloping and deploying cutting-edge tech21 nologies such as self-driving vehicle technology, 

22 artificial intelligence, Internet of Things, quan23 tum computing, blockchain, and the like; 

24 (3) maintaining the United States commitment 

25 to open investment policy encourages other countries 

26 to reciprocate and enables the United States to open 


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1 new markets abroad for United States companies 

2 and their products; 

3 (4) while foreign direct investment can enhance 

4 the United States economic strength, policies regard5 ing foreign direct investment should reflect national 

6 security interests and should not disadvantage do7 mestic investors or companies; 

8 (5) United States efforts to attract foreign di9 rect investment should be consistent with efforts to 

10 maintain and improve the domestic standard of liv11 ing; and 

12 (6) as digital information becomes increasingly 

13 important to the United States economy and the de14 velopment of new technologies and services that will 

15 be crucial to the country’s competitiveness in the 

16 21st century global economy, barriers such as data 

17 localism and infringement of intellectual property 

18 rights must be addressed. 

19 SEC. 3. FOREIGN DIRECT INVESTMENT REVIEW. 

20 (a) REVIEW.—The Secretary of Commerce, in coordi21 nation with the Federal Interagency Investment Working 

22 Group and the heads of other relevant Federal depart23 ments and agencies, shall conduct an interagency review 

24 of the global competitiveness of the United States in at25 tracting foreign direct and addressing key foreign trade 


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1 barriers that firms in advanced technology sectors face in 

2 the global digital economy. 

3 (b) SPECIFIC MATTERS TO BE INCLUDED.—The re4 view conducted pursuant to subsection (a) shall include 

5 a review of— 

6 (1) the current economic impact of foreign di7 rect investment in the United States, with particular 

8 focus on manufacturing, services, research and de9 velopment, trade (with an emphasis on digital 

10 trade), and jobs; 

11 (2) trends in global cross-border investment and 

12 data flows and the underlying factors for such 

13 trends; 

14 (3) Federal Government policies that are closely 

15 linked to the ability of the United States to attract 

16 and retain foreign direct investment; 

17 (4) foreign direct investment as compared to di18 rect investment by domestic entities; 

19 (5) foreign direct investment that takes the 

20 form of greenfield investment as compared to foreign 

21 direct investment reflecting merger and acquisition 

22 activity; 

23 (6) the unique challenges posed by foreign di24 rect investment, particularly acquisitions, by stateVerDate Sep 11 2014 23:37 Jun 08, 2021 Jkt 019200 PO 00000 Frm 00004 Fmt 6652 Sfmt 6201 E:\BILLS\H2907.IH H2907

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1 owned or state-backed enterprises, especially from 

2 state-directed economies; 

3 (7) how other countries are dealing with the 

4 challenge of state-directed and supported investment 

5 and whether there are opportunities to work with 

6 like-minded nations in addressing these shared chal7 lenges; 

8 (8) ongoing Federal Government efforts to im9 prove the investment climate and facilitate greater 

10 levels of foreign direct investment in the United 

11 States; 

12 (9) innovative and noteworthy State, regional, 

13 and local government initiatives to attract foreign in14 vestment; 

15 (10) initiatives by other countries in order to 

16 identify best practices for increasing global competi17 tiveness in attracting foreign direct investment; 

18 (11) the impact that protectionist policies by 

19 other countries, such as forced data localism rules, 

20 forced localization of production, industrial sub21 sidies, and the infringement of intellectual property 

22 rights, have on the advanced technology economy of 

23 the United States and the ability for United States 

24 located firms to develop innovative technologies; 


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1 (12) other barriers to the United States ability 

2 to compete globally in an increasingly connected and 

3 digital globally economy, for instance, the use of 

4 technical barriers to trade (such as country specific 

5 standards for technology products and digital serv6 ices); and 

7 (13) the adequacy of efforts by the Federal 

8 Government to increase the ease for foreign firms 

9 considering investment in the United States. 

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

11 subsection (a) shall not address laws or policies relating 

12 to the Committee on Foreign Investment in the United 

13 States. 

14 (d) PUBLIC COMMENT.—Prior to— 

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

16 the Secretary shall publish notice of the review in 

17 the Federal Register and shall provide an oppor18 tunity for public comment on the matters to be cov19 ered by the review; and 

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

21 Secretary shall publish the proposed findings and 

22 recommendations to Congress in the Federal Reg23 ister and shall provide an opportunity for public 

24 comment. 


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

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

3 Commerce, in coordination with the Federal Interagency 

4 Investment Working Group and the heads of other rel5 evant Federal departments and agencies, shall report to 

6 Congress the findings of the review required under sub7 section (a) and submit recommendations for increasing the 

8 global competitiveness of the United States in attracting 

9 foreign direct investment and developing 21st century 

10 technologies and services, without weakening national se11 curity, labor, consumer, financial, or environmental pro12 tections. 

Æ 


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