WASHINGTON—The U.S. Senate’s number 2-ranking Republican, John Cornyn, said that a bill he has introduced will prevent foreign investments in the United States that pose a risk to national security. In a speech on Nov. 14, Cornyn painted China as the source of the national security risks the bill seeks to address, and said that it’s “time to wake up” to the mounting risks of China’s incursions into U.S. economy.
The bill, known as the Foreign Investment Risk Review Modernization Act (FIRRMA), was introduced last week by Sen. John Cornyn of Texas and co-sponsored by a bipartisan group of heavyweight senators including Dianne Feinstein (D-Calif.) and Richard Burr (R-NC), the chairman of the Senate intelligence committee. Republican Representative Robert Pittenger of North Carolina also introduced an identical bill in the House.
