Tighter foreign investment oversight shoe-horned into US defence bill - Reuters

As reported by Reuters, A Senate measure to firm up oversight of foreign investment in the US was wedged into a must-pass defense spending bill on Thursday.

Key quotes

"The measure seeks to strengthen the Committee on Foreign Investment in the United States (CFIUS), a government agency that reviews potential foreign investment to ensure it does not compromise national security.

The CFIUS legislation is aimed at preventing China or other unfriendly countries from acquiring U.S. technology or data about Americans via investment in U.S. companies.

The defense policy bill - the National Defense Authorization Act - is a ‘must-pass’ act, one of the few measures that Congress reliably votes into law.

The CFIUS measure was not put in the version of the bill that was passed earlier on Thursday by an overwhelming margin in the House of Representatives.

The two versions will be combined and voted on later in the year. "