Number: RL33388
Title: The Committee on Foreign Investment in the United States (CFIUS)
Authors: James K. Jackson, Foreign Affairs, Defense, and Trade Division 
Abstract: Foreign Investment and National Security Act of 2007. On July 11, 2007, the measure was sent to the President, who signed it on July 26, 2007. It is designated as P.L. 110-49. On January 23, 2008, President Bush issued Executive Order 13456 implementing the law. The Executive Order also establishes some caveats that may affect the way in which the law is implemented. These caveats stipulate that the President will provide information that is required under the law as long as it is "consistent" with the President's authority 1) to conduct the foreign affairs of the United States; 2) withhold information that would impair the foreign relations, the national security, the deliberative processes of the Executive, or the performance of the Executive's constitutional duties; or the President's ability to supervise the unitary executive branch. Despite the relatively recent passage of the amendments, Members of Congress and others are continuing to question the performance of CFIUS and the way the Committee is reviewing cases involving foreign governments, particularly with the emergence of direct investments through sovereign wealth funds (SWFs).
Pages: 23
Date: April 8, 2008