Amid rising tensions with our adversaries and mounting competition between world powers, my colleagues and I passed the Foreign Investment Risk Review Modernization Act of 2018.
As we added resources to CFIUS and expanded its purview, our legislation clarified that America must maintain its enthusiastic support for foreign investment, which is critical for U.S. jobs, innovation and productivity. Recently, one proposed deal awaiting CFIUS approval caught my eye. Vista Outdoors is a major U.S. sporting equipment manufacturer that owns Remington Ammunition, among a variety of other companies that sell products related to outdoor activities.
The purpose of the 2018 overhaul of the Foreign Investment Risk Review Modernization Act was to significantly increase CFIUS’ resources and scope so that Americans could be confident the interagency team would capably defend American interests.