Senate Passes Cornyn, Cortez-Masto, Warren Bipartisan Bill Protecting American National and Economic Security from Threats Posed by China
“Today’s vote is an important bipartisan step to protect American innovation and safeguard our national security.”
Washington, D.C. – Today on the Senate floor, U.S. Senator Elizabeth Warren (D-Mass.), Ranking Member of the Senate Banking, Housing, and Urban Affairs Committee, urged her Senate colleagues to support the Foreign Investment Guardrails to Help Thwart (FIGHT) China Act. The bill prohibits and requires notification of American investments in certain technologies in China to address bipartisan concerns on the dangers such investments could pose to America’s national and economic interests.
The bill was introduced by U.S. Senators John Cornyn (R-TX), Catherine Cortez Masto (D-NV), Jim Banks (R-IN), Elissa Slotkin (D-MI), Pete Ricketts (R-NE), Michael Bennet (D-CO), Bill Hagerty (R-TN), Andy Kim (D-NJ), Dave McCormick (R-PA), Chuck Schumer (D-NY), and Dan Sullivan (R-AK), along with Senate Banking, Housing, and Urban Affairs Committee Chairman Tim Scott (R-SC) and Ranking Member Warren.
Below are Ranking Member Warren’s remarks as delivered:
Senator Warren: We have a responsibility to ensure that the United States remains the world’s leader in advanced technology. There is broad bipartisan agreement that we should be developing the most sensitive, cutting-edge technologies here at home, rather than funding their development in countries that do not share our values.
This amendment would advance that goal by codifying a program to screen specific types of U.S. investments in China and other countries of concern. It will protect our national security and help ensure that American ingenuity, innovation, and investment do not end up turbo-charging these countries' advancements in fields like artificial intelligence, quantum computing, and microelectronics.
I commend Senators Cortez-Masto and Cornyn for their leadership in this effort and look forward to working with my colleagues to get a version of this important legislation signed into law.
Today’s vote is an important bipartisan step to protect American innovation and safeguard our national security.
I urge a yes vote.
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