WASHINGTON, D.C. –  Today, Congressman Blaine Luetkemeyer and the House Financial Services Committee held a hearing entitled, “Oversight of the Committee on Foreign Investment in the United States (CFIUS) and Other Efforts to Strengthen National Security in the United States.” Rep. Luetkemeyer, the Chairman of the Subcommittee on National Security, Illicit Finance, and International Financial Institutions, made the following opening statement:

                                                                                                                                        Click HERE to watch.

“Under Xi Jinping, the CCP seeks to undermine the United States at every turn. As we work to maintain our strategic advantages over the CCP, CFIUS plays a critical role ensuring those foreign direct investments don’t end up putting sensitive U.S. technology, data, or real estate into hostile hands,” Congressman Luetkemeyer said. “To that end, I’m concerned that the integrity of the CFIUS process is eroding, and the cracks in our national-security screening process are getting worse. We must ensure that CFIUS’ resources are focused on identifying and stopping investments dangerous to our national security – especially by the CCP.”