A measure that would require U.S. investors of Chinese tech companies to report investments overwhelmingly passed in the Senate, underscoring growing worries about China’s rapid advanced technology development.
The bipartisan amendment to the National Defense Authorization Act, offered by Sens. Bob Casey and John Cornyn , passed 91-6 on Tuesday. The NDAA sets policy and funding for the Pentagon.The senators who voted against the measure were Marsha Blackburn , Mike Braun , Mike Lee , Rand Paul , Kyrsten Sinema , and Thom Tillis .
"We need this type of outbound investment notification to understand just how much ... critical technology we are transferring to our adversaries via these capital flows,” Casey said on the Senate floor on Tuesday. “With this information in hand, we can begin to take control of our economic future.” “When American companies invest in technology like semiconductors or AI in countries like China and Russia, their capital, intellectual property, and innovation can fall into the wrong hands and be weaponized against us,” Cornyn said in a statement.
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