USCIB joined with nine other leading business groups in a July 30 letter to the leadership of the House of Representatives strongly supporting quick floor approval for early adoption of HR 2052, the Global Investment in American Jobs Act.
USCIB has long been a leader in supporting both outward and inward foreign direct invest (FDI) as critical for American competitiveness, growth, and jobs in today’s globalized economy. The bill, which earned rare unanimous support of the House Energy and Commerce Committee on July 17, highlights the contributions which inward FDI makes to American prosperity and jobs, tasks the Secretary of Commerce to lead the first-ever comprehensive review of the competitiveness of the U.S. as a destination for international FDI, and to develop recommendations to enhance our national investment competitiveness in this key area.
While the United States remains the world’s leading recipient of FDI, our global share of such investment has dropped significantly since the turn of the 21st century, from 41 percent in 1999 to just over 17 percent in 2011. So we as a nation certainly have some work to do to keep ahead in this increasingly competitive global environment. This important piece of investment legislation can be a first step.
Staff contact: Shaun Donnelly