Discussion · House of Representatives
Bruce Westerman Republican
“I want the House to pass this bill. It will help American mining and reduce China's control over critical minerals. We should reject this amendment because our laws already stop risky foreign investments, and the amendment could hurt friendly companies.”
“Mr. Speaker, I yield myself such time as I may consume. Mr. Speaker, I would note that Congress has already addressed this issue of foreign ownership through previous legislation, and it has passed well-considered restrictions on Chinese ownership. The amendment that was offered would create an ambiguous standard that could inadvertently prevent non-Chinese publicly traded companies from mining domestically. The Committee on Foreign Investment in the United States, or CFIUS, already reviews foreign investments in American businesses to assess any national security risks. Mr. Speaker, if you support our domestic supply of critical minerals, this bill provides the regulatory certainty necessary to strengthen domestic mineral supply chains. If you support weakening China’s global control over minerals, then I would say join us in voting for the Protecting Domestic Mining Act. Mr. Speaker, I yield 2 minutes to the gentleman from Utah (Mr. Moore).”
Mr. Speaker, I yield myself such time as I may consume. Mr. Speaker, I would note that Congress has already addressed this issue of foreign ownership through previous legislation, and it has passed well-considered restrictions on Chinese ownership. The amendment that was offered would create an ambiguous standard that could inadvertently prevent non-Chinese publicly traded companies from mining domestically. The Committee on Foreign Investment in the United States, or CFIUS, already reviews foreign investments in American businesses to assess any national security risks. Mr. Speaker, if you support our domestic supply of critical minerals, this bill provides the regulatory certainty necessary to strengthen domestic mineral supply chains. If you support weakening China’s global control over minerals, then I would say join us in voting for the Protecting Domestic Mining Act. Mr. Speaker, I yield 2 minutes to the gentleman from Utah (Mr. Moore).