At a Senate Banking Committee hearing, Ranking Member Pat Toomey (R-PA) raised numerous concerns about the proposed "National Critical Capabilities Act," also known as "outbound CFIUS."
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The Committee on Foreign Investment in the United States extended by one year the effective date for one of the criteria under the definitions of "Excepted Foreign State" and "Excepted Real Estate Foreign State."
The Treasury Department issued an interim final rule that "establishes a fee for parties filing a formal written notice of a transaction for review by the Committee on Foreign Investment in the United States.”
The Treasury Department proposed regulations to implement the Foreign Investment Risk Review Modernization Act and broaden the authority of the Committee on Foreign Investment in the United States.
President Donald J. Trump signed into law the Foreign Investment Risk Review Modernization Act as part of the wide-reaching John S. McCain National Defense Authorization Act for fiscal year 2019.