Global Investment in American Jobs Act of 2023
12/7/2023, 5:06 PMSummary of Bill S 2368
Bill 118 s 2368, also known as the Global Investment in American Jobs Act of 2023, is a piece of legislation currently being considered by the US Congress. The main goal of this bill is to promote and increase foreign direct investment in the United States in order to create more jobs for American workers.The bill outlines several key provisions, including the establishment of a new office within the Department of Commerce dedicated to promoting and facilitating foreign investment in the US. This office would work to attract foreign companies to invest in American businesses, particularly in industries that are in need of growth and development.
Additionally, the bill calls for the creation of a task force comprised of representatives from various government agencies and industry stakeholders to develop strategies for increasing foreign investment in the US. This task force would also be responsible for monitoring and evaluating the impact of foreign investment on American jobs and the economy. Furthermore, the bill includes provisions for providing technical assistance and support to American businesses seeking foreign investment, as well as measures to streamline the regulatory process for foreign companies looking to invest in the US. Overall, the Global Investment in American Jobs Act of 2023 aims to boost the US economy by attracting more foreign investment and creating new job opportunities for American workers. It is currently under review by Congress and may undergo further revisions before being voted on.
Congressional Summary of S 2368
Global Investment in American Jobs Act of 2023
This bill requires the Department of Commerce to conduct an interagency review of the global competitiveness of the United States in attracting foreign direct investment from responsible private-sector entities based in trusted countries and addressing foreign trade barriers that firms in advanced technology sectors face in the global digital economy.
Among other elements, the review shall include an assessment of (1) the economic impact of foreign direct investment in the United States, (2) trends in global cross-border investment and data flows, (3) federal government policies that facilitate foreign direct investment, and (4) the adequacy of federal government efforts to encourage and facilitate foreign direct investment in the United States.
Commerce must report the findings of such review to Congress and the Government Accountability Office (GAO) and include recommendations for increasing the global competitiveness of the United States in attracting foreign direct investment. The GAO must submit a review and assessment of the report to Congress.
