House Panel OK's Foreign Investment Bill (AP)

[Eugene]

House Panel OK's Foreign Investment Bill
By Associated Press

February 13, 2007, 9:49 PM EST

WASHINGTON -- A House panel on Tuesday revived and approved legislation
passed last year amid the political uproar that scuttled a Dubai-owned
company's plans to buy and run operations at major U.S. ports.

The House Financial Services Committee, on a voice vote, sent the bill, the
National Security Foreign Investment Reform and Strengthened Transparency
Act, to the full House. It cleared the House unanimously last July but was
never reconciled with a more stringent version in the Senate.

The House legislation would broaden the types of deals reviewed for security
risks by a high-level Bush administration panel -- the Committee on Foreign
Investment in the United States -- to include those affecting homeland security,
and sales involving power and water plants. The bill also would make it tougher
for companies to withdraw proposed deals from government scrutiny.

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Full article: http://www.newsday.com/news/politics/wire/sns-ap-congress-foreign-investment,0,3012972.story