Legislative Update: Foreign Investment, Merchandise Processing Fee, Outsourcing
For more information on pursuing trade policy interests through the legislative process, please contact Nicole Bivens Collinson.
Foreign Investment. H.R. 7064 (introduced June 1 by Rep. Banks, R-Ind.) would prohibit financial investment by a U.S. person in foreign industrial defense corporations with substantial contracts with, ties to, or support from the Chinese military and affiliated entities.
MPF. S. 3876 (introduced June 3 by Sen. Scott, R-S.C.) would make a technical correction relating to the treatment of refunds of merchandise processing fees under the U.S.-Mexico-Canada Agreement Implementation Act.
Outsourcing. H.R. 6992 (introduced May 22 by Rep. Pascrell, D-N.J.) would amend the Internal Revenue Code of 1986 to encourage domestic insourcing and discourage foreign outsourcing.