Congressional Budget Office Cost Estimate: Foreign Investment and National Security Act of 2007   [open pdf - 14KB]

"The legislation would amend the Defense Production Act of 1950 to establish in law the Committee on Foreign Investment in the United States (CFIUS). The committee would consist of at least nine permanent members with seven full members, including the Secretaries of the Treasury, Homeland Security, Commerce, Defense, State, and Energy, as well as the Attorney General and two ex-officio members including the Secretary of Labor and the Director of National Intelligence to coordinate the review of foreign investment in the United States that involves national security or critical infrastructure. The legislation would formalize and expand the review and investigation process. In addition, the legislation would require specific reports by the Department of the Treasury on the previous work of CFIUS and on foreign investment in the United States. CBO [Congressional Budget Office] expects that complying with the bill's provisions would increase the administrative expenses of some federal agencies, including the Department of the Treasury, but because of the confidential nature of the CFIUS review process, the number of agencies involved, and the confidential information needed to prepare an estimate for some provisions of the legislation, CBO cannot determine a precise estimate of the likely total costs of this bill."

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