WASHINGTON, July 26 /PRNewswire-USNewswire/ -- House Republican Whip Roy Blunt (Mo.) was on hand at the White House this afternoon, as President Bush signed into law a bill he helped write that will spur new investment in America while strengthening our national security regime. The newly minted public law, introduced by Blunt and passed unanimously by the House last year, was co-sponsored by the congressman again this Congress.
"The Dubai Ports World deal last year exposed serious flaws with the committee that reviews foreign investment decisions in our country," Blunt said. "The bill President Bush signed into law today represents a common sense solution to that issue, making sure that Americans are protected without slowing down economic growth or putting good American jobs at risk."
Blunt led the effort to reform the review process overseen by the Committee on Foreign Investments in the United States (CFIUS) in 2006. Similar legislation introduced by Blunt passed the House unanimously last year, but was never taken up in the Senate.
"This CFIUS reform approach strikes the right balance between homeland security and open engagement with the global economy. I'm delighted we were able to get it through Congress, and proud to be standing here today at the White House to see it signed into law."
SOURCE House Republican Whip Roy Blunt