Title: Global Economic Security Strategy of 2019
Policy area: Economics and Public Finance

Summary:
Global Economic Security Strategy of 2019
This bill requires the President, in support of the national security strategy, to set forth a global economic security strategy for the United States that includes an assessment of

[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[S. 2826 Introduced in Senate (IS)]

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116th CONGRESS
  1st Session
                                S. 2826

To require a global economic security strategy, and for other purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                            November 7, 2019

    Mr. Young (for himself, Mr. Merkley, Mr. Rubio, and Mr. Coons) 
introduced the following bill; which was read twice and referred to the 
            Committee on Banking, Housing, and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
To require a global economic security strategy, and for other purposes.

    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 Economic Security Strategy of 
2019''.

SEC. 2. SENSE OF CONGRESS.

    It is the sense of Congress that--
            (1) the national security of the United States depends in 
        large part on a vibrant, growing, and secure United States 
        economy;
            (2) the United States confronts more international economic 
        competition and threats today than at any time in the Nation's 
        history;
            (3) a failure of the United States to compete economically 
        will undermine the prosperity and security of the people of the 
        United States;
            (4) the United States is stronger when the national 
        security strategy integrates economic tools in the service of 
        foreign policy objectives;
            (5) it is in the national security and economic interests 
        of the United States--
                    (A) to promote free, fair, and reciprocal economic 
                relationships between the United States and foreign 
                individuals and entities;
                    (B) to promote and protect the United States 
                innovation base, including the defense industrial base;
                    (C) to ensure that the United States leads in 
                research, technology, and innovation;
                    (D) to counter anticompetitive economic behavior, 
                policies, and strategies by foreign individuals and 
                entities;
                    (E) to promote environmental stewardship; and
                    (F) to ensure workers and families in the United 
                States have the opportunity to thrive with competitive 
                wages and are not unfairly disadvantaged;
            (6) the Federal Government has a limited, but important, 
        role in facilitating the ability of the United States to 
        compete successfully in the international economic competition 
        described in paragraph (2); and
            (7) the Federal Government should periodically produce a 
        global economic security strategy--
                    (A) to ensure Federal policies, statutes, 
                regulations, procedures, data gathering, and assessment 
                practices are optimally designed and implemented to 
                facilitate the competitiveness, prosperity, and 
                security of the United States;
                    (B) to reassure allies and partners of the United 
                States of the enduring commitment of the United States 
                to the promotion of free, fair, and reciprocal economic 
                relationships; and
                    (C) to maximally advance economic opportunity for 
                present and future generations of United States 
                citizens.

SEC. 3. GLOBAL ECONOMIC SECURITY STRATEGY.

    (a) Strategy Required.--
            (1) Initial strategy.--Not later than 180 days after the 
        date of the enactment of this Act, the President, in 
        coordination with the National Security Council and the 
        National Economic Council and the heads of other relevant 
        Federal agencies, shall submit to the appropriate congressional 
        committees a report setting forth a global economic security 
        strategy for the United States to support the national security 
        strategy.
            (2) Subsequent strategies.--Beginning in 2021, the 
        President, in coordination with the National Security Council 
        and the National Economic Council and the heads of other 
        relevant Federal agencies, shall submit to the appropriate 
        congressional committees a global economic security strategy--
                    (A) in any year in which a new President is 
                inaugurated, not later than October 1 of that year; and
                    (B) in any other year, not later than 90 days after 
                the transmission to Congress in that year of the 
                national security strategy.
    (b) Elements.--Each report required by subsection (a) shall set 
forth a global economic security strategy of the United States and 
shall, at a minimum, include the following:
            (1) An assessment of the global competitive position of key 
        United States economic sectors, including strengths, 
        weaknesses, opportunities, and threats.
            (2) An assessment of the national debt and its implications 
        for the economic and national security of the United States.
            (3) A description and discussion of the prioritized 
        economic security interests and objectives of the United 
        States, including key economic sectors vital to economic 
        security of the United States.
            (4) A description of the leading threats, challenges, and 
        opportunities associated with the interests and objectives 
        described in paragraph (3), including--
                    (A) an assessment of the severity and likelihood of 
                the threats, both foreign and domestic, and an explicit 
                linking of each such threat to a national interest or 
                objective;
                    (B) an assessment of the nature of the challenges 
                and how each challenge will evolve if left unaddressed; 
                and
                    (C) an assessment of the opportunities and 
                associated potential benefits to United States 
                interests or objectives.
            (5) An overview of the public and private sector tools 
        necessary to address or minimize the leading threats and 
        challenges described in paragraph (4) and to take advantage of 
        the leading opportunities described in that paragraph.
            (6) An assessment of whether the United States Government 
        or private sector possesses those tools.
            (7) For each such threat, challenge, or opportunity that 
        the United States Government or private sector lack sufficient 
        tools to address, minimize, or take advantage of, a detailed 
        plan to develop, improve, or foster those tools.
            (8) A plan to utilize available tools to address or 
        minimize the leading threats and challenges and to take 
        advantage of the leading opportunities, including--
                    (A) a discussion of the optimal allocation of 
                finite resources and an identification of the risks 
                associated with that allocation;
                    (B) specific objectives, tasks, metrics, and 
                milestones for each relevant Federal agency;
                    (C) specific plans to eliminate obstacles for the 
                private sector in areas supportive of the global 
                economic security strategy and to maximize the prudent 
                use of public-private partnerships;
                    (D) specific plans to eliminate obstacles to 
                strengthening United States energy security, 
                sustainability, and resilience in areas supportive of 
                the global economic security strategy, including energy 
                diversity and sustainable management and use of energy 
                resources;
                    (E) specific plans to promote environmental 
                stewardship and fair competition for United States 
                workers;
                    (F) a description of--
                            (i) how the global economic security 
                        strategy supports the national security 
                        strategy; and
                            (ii) how the global economic security 
                        strategy is integrated and coordinated with the 
                        most recent national defense strategy under 
                        section 113(g) of title 10, United States Code;
                    (G) a plan to encourage the governments of 
                countries that are allies or partners of the United 
                States to cooperate with the execution of the global 
                economic security strategy, where appropriate; and
                    (H) a plan to encourage certain international and 
                multilateral organizations to support the 
                implementation of the global economic security 
                strategy.
            (9) An identification of any additional resources or 
        statutory authorizations necessary to implement the global 
        economic security strategy.
    (c) Form of Report.--Each report required by subsection (a) shall 
be submitted in unclassified form, but may include a classified annex.
    (d) Definitions.--In this section:
            (1) Appropriate congressional committees.--The term 
        ``appropriate congressional committees'' means--
                    (A) the Committee on Appropriations, the Committee 
                on Armed Services, the Committee on Banking, Housing, 
                and Urban Affairs, the Committee on Commerce, Science, 
                and Transportation, the Committee on Finance, and the 
                Committee on Foreign Relations of the Senate; and
                    (B) the Committee on Appropriations, the Committee 
                on Armed Services, the Committee on Energy and 
                Commerce, the Committee on Financial Services, the 
                Committee on Foreign Affairs, and the Committee on Ways 
                and Means of the House of Representatives.
            (2) National security strategy.--The term ``national 
        security strategy'' means the national security strategy 
        required by section 108 of the National Security Act of 1947 
        (50 U.S.C. 3043).
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