Washington, D.C. — Today, House Ways and Means Chairman Kevin Brady (R-TX) released the following statement after President Trump announced that the Administration will rely on the Congressional legislative process as the basis for action against foreign investment that affects U.S. technology by revamping the Committee on Foreign Investment in the United States (CFIUS):

“I welcome the President’s tough action to prevent any country from stealing our vital technology through investing in or acquiring U.S. companies.  To address these threats, the House and the Senate each have  passed legislation to comprehensively revamp our CFIUS process.  I’m glad that the President will be using that modernized and robust process to target and thwart such behavior.”