Senate remains largely united on China provisions despite disagreements over NDAA.

A Measure to Protect National Security

A measure aimed at safeguarding U.S. national security by monitoring investments in Chinese tech companies has overwhelmingly passed in the Senate, highlighting concerns about China’s ⁢rapid advancements in ⁢technology. The bipartisan amendment, proposed by Senators Bob ‍Casey (D-PA) and‌ John⁢ Cornyn (R-TX), received a resounding 91-6 vote ‍in favor on Tuesday. This amendment is⁣ part of⁢ the National Defense Authorization Act ⁣(NDAA), which ⁣establishes policies and funding for the Pentagon.

Opposition and Objectives

The six ‌senators who voted against the measure were Marsha Blackburn (R-TN), Mike Braun (R-IN), Mike Lee (R-UT), Rand Paul⁤ (R-KY), Kyrsten Sinema (I-AZ), and Thom Tillis ​(R-NC). The amendment ​requires U.S. investors to report their‍ stakes within two weeks ‌to the Treasury Department. It also mandates reporting investments in ​other “countries of concern,” including North Korea, Russia, and Iran.

“We need this type of outbound‌ investment notification to understand just how ‍much… critical technology⁣ we are transferring to our adversaries via these capital flows,” emphasized Casey during⁢ his Senate floor speech. “With ‍this information in hand,⁤ we can begin to take control of our economic future.”

Enhancing Transparency and Security

This measure bears​ similarities to the Outbound Investment Transparency⁣ Act, which aimed to restrict investments in foreign adversaries. However, ⁤objections were raised, leading to the current amendment that focuses on investment notification rather than​ prohibition. It also targets a narrower range of‌ industries.

Cornyn‍ expressed his support, stating, “When American companies invest in technology like semiconductors⁣ or AI​ in countries like China ‍and Russia, their capital, intellectual property, and innovation can fall into ​the wrong hands and be weaponized against us. This bill ⁢would increase the visibility of‍ these ⁢investments, helping the U.S. gather ​the necessary information to evaluate our national security vulnerabilities, confront threats‍ from⁢ adversaries,‌ and maintain our ⁣global competitiveness.”

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Additional Measures to Protect ‍National Interests

In addition to the ⁤tech⁢ investment measure, the Senate‌ also passed an amendment‌ on Tuesday to prevent foreign adversaries from purchasing American agricultural land. The amendment, proposed by Senators Jon Tester (D-MT) and Mike Rounds (R-SD), received a 91-7 vote ⁤in favor. The aim is to prevent countries like China, Russia, North Korea,⁣ and Iran from‌ acquiring U.S. ⁢farmland, particularly near military installations,⁢ due to‍ concerns about ​national security risks.

Members of Congress have been​ engaged in debates over ​the NDAA, which determines Pentagon policy and authorizes $886 billion in ​defense spending for fiscal year 2024. The Senate is working diligently to pass this crucial bill before the August recess, which ⁢is set to begin after business concludes on Thursday evening. The final version of the‌ bill will ⁢be determined later this year when the Republican-led House and Democratic-controlled Senate reconcile their differences in a conference committee. ‌The House ‌has​ already passed its version⁣ of the bill earlier this month.

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