|Sponsor||Rep. Terry, Lee|
|Committee||Energy and Commerce|
|Date||September 9, 2013 (113th Congress, 1st Session)|
|Staff Contact||David Smentek|
On Monday, September 9, 2013, the House will consider H.R. 2052, the Global Investment in Jobs Act, under a suspension of the rules. The bill was introduced on May 20, 2013 by Rep. Lee Terry (R-NE) and referred to the Committee on Energy and Commerce, which reported the bill by unanimous consent.
H.R. 2052 expresses the Sense of Congress that:
The bill further directs the Secretary of Commerce to conduct an interagency review of the global competitiveness of the United States in attracting foreign direct investment. This review should include information on the following:
Not later than one year after the date of enactment, the Secretary of Commerce is required to report the findings of the review and submit recommendations.
In 2011, foreign investment totaled $234 billion in nominal terms in U.S. businesses and real estate, according to the Department of Commerce, a 14 percent increase from 2010. The cumulative amount of foreign direct investment in the U.S. on a historical cost basis rose from $2.26 trillion in 2010 to $2.55 trillion in 2011.
CBO estimates that implementing this legislation would cost about $1 million over the 2014-2018 period for staff and administrative activities required to conduct the review and prepare the report.
For questions or further information contact the GOP Conference at 5-5107.