GBA Applauds House Passage of Global Investment in American Jobs Act

WASHINGTON, D.C. – The bipartisan Global Investment in American Jobs Act (H.R. 813), introduced by Rep. Greg Pence (R-IN) and cosponsored by Reps. Marilyn Strickland (D-WA), Rick Allen (R-GA), Anna Eshoo (D-CA), Rep. Lisa Blunt Rochester (D-DE) and Rep. Dan Crenshaw (R-TX), passed the U.S. House of Representatives by a vote of 386-22 last night. Nancy McLernon, president & CEO of the Global Business Alliance (GBA), applauded this news and issued the following statement:

“I am encouraged by the House’s passage of the Global Investment in American Jobs Act. This forward-thinking legislation truly underscores the vital role foreign direct investment plays in strengthening our economy and creating high-quality jobs for Americans. This bill presents us with an opportunity to better understand and address the factors that influence this investment climate. Our aim must be to secure an open, stable and favorable business environment that encourages global companies headquartered in allied nations to set up shop and expand existing operations here in the U.S. This will stimulate innovation, create higher-paying jobs, increase U.S. exports and drive economic growth. The passage of this bill sends a clear message that the United States is open for business and committed to maintaining its position as the top destination for global investment.”

The Global Investment in American Jobs Act would direct the U.S. Department of Commerce to conduct a government-wide review of ways to increase America’s global competitiveness in attracting foreign direct investment and combat the potential long-term threats posed by Chinese state-owned enterprises.