Pascrell and DeLauro Push Urgent Action to Protect American Jobs and Supply Chains

Pascrell and DeLauro urge urgent action to protect American jobs and supply chains

Official Statement to Senate Banking Committee Calls for Support for National Critical Capabilities Defense Act

WASHINGTON, DC – US Reps. Bill Pascrell, Jr. (D-NJ-09) and Rosa DeLauro (D-CT-03) today called on the Senate Committee on Banking, Housing and Urban Affairs to act quickly to save American jobs and supply chains and enacted its turning-point legislation, the National Critical Capabilities Defense Act (NCCDA), and presented an official joint statement for the Foreign Investment Screening Committee hearing.

“We must not be weak-headed when it comes to standing up to our opponents, starting with Xi Jinping and Vladimir Putin. We must take all necessary steps to protect the United States supply chain and our national security from foreign adversaries. While we are emboldened by the Biden administration’s support on this matter, and have encouraged executive action, we continue to believe that legislation like the NCCDA is essential to protecting our nation’s critical capabilities, national security, and American workers . Rep. Pascrell and DeLauro challenged the Senate Banking Committee.

In a July hearing, Senate Banking Sector Chairman Sherrod Brown (D-OH) pledged to work with colleagues to resolve the issue of foreign investment in a vehicle separate from the CHIPS package now being managed by President Biden legally signed.

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Reps Pascrell and DeLauro are major sponsors of the National Critical Capabilities Defense Act, which will create a National Critical Capabilities Committee. Once in place, the committee will have the power to review and block certain US offshoring, development or manufacture of identified critical national capabilities manufactured in adversarial nations, including China and Russia. Legislation covers the manufacture of medical supplies and drugs, items essential to the electrical grid, and areas critical to U.S. national security, among others. The National Critical Capabilities Defense Act was incorporated into the common stock of America Creating Opportunities for Manufacturing, Pre-Eminence in Technology and Economic Strengths Act (America COMPETES Act), which was passed by the House of Representatives on February 4, 2022. Pascrell joined the House of Representatives as Senate leaders urge President Biden to take NCCDA-style executive action that would protect American workers and supply chains.

The full text of the members’ statement is below.

Congressman Rosa L. DeLauro (D-CT-03) and Congressman Bill Pascrell, Jr. (D-NJ-09)

Statement for the U.S. Senate Committee on Banking, Housing and Urban Affairs Hearing on Auditing of Foreign Investments

September 29, 2022

Thank you, Chairman Sherrod Brown (D-OH) and Tier Member Pat Toomey (R-PA) for holding this important hearing on the issue of foreign investment screening. We would like to thank Senators Bob Casey (D-PA) and John Cornyn (R-TX) for co-chairing the Senate version of the National Critical Capabilities Defense Act (NCCDA) and Deputy House Representative Victoria Spartz (R-IN)-05 ) and Brian Fitzpatrick (R-PA-01).

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In a July hearing before this committee, Chair Brown, you committed to working with your colleagues to address this issue in an instrument separate from the CHIPS package, which has now been signed into law. We appreciate this step in fulfilling that commitment by holding this hearing today.

We are caretakers of the NCCDA. Our legislation would create a new trade instrument bringing a state-wide response to the scrutiny of a tailored suite of foreign investments in specific sectors. This screening process for foreign investment and outsourcing of critical capacity and supply chains would ensure that the United States can quickly identify and address supply chain vulnerabilities and prevent the outsourcing of critical manufacturing capacity and intellectual property to our foreign adversaries such as the People’s Republic of China (PRC) and the Russian Federation.

As you may know, our bill has been included as part of the House-passed America COMPETES Act and will be discussed by conference attendees on the conference committee. The sensible proposal has strong bipartisan and bicameral support and was recommended as part of the recent unanimously approved report by the US-China Economic and Security Review Commission.

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As champions of American workers, we hope you will agree that we must do more to fix our frayed supply chains and empower our government with the authorities to take action to address these issues. We must not be weak-headed when it comes to defying our opponents, starting with Xi Jinping and Vladimir Putin. We must take all necessary steps to protect the United States supply chain and our national security from foreign adversaries. While we are emboldened by the Biden administration’s support on this matter, and have encouraged executive action, we continue to believe that legislation like the NCCDA is essential to protecting our nation’s critical capabilities, national security, and American workers . We ask for your support in our efforts and our continued partnership towards these ends.

Thank you for your attention to our comments. We look forward to working with members of this committee and bicameral colleagues on both sides of the aisle to introduce an outbound investment screening mechanism at the 117th Congress.

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