Sen. Cornyn Readies Bill Broadening CFIUS' Reach

By Chelsea Naso (June 23, 2017, 2:50 PM EDT) -- Sen. John Cornyn, R-Texas, said Thursday he is putting the "final touches" on a bipartisan bill aimed at extending the Committee on Foreign Investment in the United States' reach to noncontrol and other currently uncovered transactions to stem Chinese investment in critical U.S. technology.

The risk is that Chinese investors, as part of a government-backed push to gain access to more technology, are circumventing the CFIUS process with specific deal structures to grab a toehold in technology that is potentially critical to military operations and national security, Cornyn said in a speech at the Council on Foreign Relations.

"Left unchecked, I believe...

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