WASHINGTON – Sen. John Kennedy (R-La.) today introduced the Exposing China’s Belt and Road Investment in America Act of 2021 to review investments that businesses controlled by the Chinese Communist Party make on U.S. soil. China routinely makes such “greenfield” investments while buying land, building factories and taking advantage of state and local tax breaks in America to expand China’s influence.

“The Chinese communist regime uses greenfield investments to gain leverage over the U.S. economy and our job market. We can’t be blind to the ways Beijing is gaming our system to take American assets, real estate and innovation away from U.S. businesses. The Exposing China’s Belt and Road Investment in America Act of 2021 is a key step forward in countering the threat China poses to America’s economy and national security,” said Kennedy.

Greenfield projects are the most common way that Chinese companies enter the American market. They are quickly becoming Beijing’s preferred method for expanding influence under its Belt and Road Initiative, the international infrastructure plan meant to increase the regime’s global power. At the same time, the Chinese government keeps its domestic markets largely insulated from foreign influence.

China’s state-operated enterprises use the greenfield model to siphon intellectual property, influence and other assets away from U.S. businesses.

The Exposing China’s Belt and Road Investment in America Act of 2021 would put Chinese greenfield initiatives under the review of the Committee on Foreign Investment in the United States (CFIUS). The legislation would also require greenfield investments to file a declaration with CFIUS if China’s government controls or has a substantial interest in the investment. CFIUS would review these investments for national security purposes.

Specifically, the bill would require a CFIUS review for any investment that is made by a foreign person that both:

• involves the acquisition of real estate in the U.S. and the establishment of a U.S. business on such real estate, and
• results in China’s direct or indirect control of that U.S. business.

Text of the Exposing China’s Belt and Road Investment in America Act of 2021 is available here.

Watch Kennedy’s comments here.

WASHINGTON – Sen. John Kennedy (R-La.), a member of the Senate Banking Committee, today explained the danger of the Biden administration’s plan to require banks and other financial institutions to expand their reporting of individual, confidential taxpayer information to the Internal Revenue Service (IRS).

“[Sec. Yellen] says we need to do it to catch rich tax cheats. She knows better than that. Why throw the net so wide? This proposal, like a lot of proposals, in my Democratic friends' bill is not about public policy, and it's not about taxes. It's about control. There are too many people in charge right now in Washington, D.C., who just don't trust Americans to know what's best for themselves. They just don't trust Americans to make decisions for themselves. Their attitude seems to be: Do what you're told. Just do what you're told, and if you do that, we might let you eat meat occasionally,” said Kennedy.

“I don't think you can understate the risk that this data could leak. We just had an instance—some of my colleagues talked about it—where financial data of taxpayers was leaked—I think by the IRS. . . . Do you folks really want to live in a state where the government knows every one of the intimate details of your life, including finances? If you do, I hear China is beautiful this time of year,” he concluded.

Video of Kennedy’s comments is available here.

WASHINGTON – Sen. John Kennedy (R-La.) today joined Sens. Amy Klobuchar (D-Minn.) and Chuck Grassley (R-Iowa) in introducing the American Innovation and Choice Online Act to stop Big Tech from limiting consumer choice. The bill would help restore competition online by establishing commonsense rules of the road for dominant digital platforms to prevent them from abusing their market power to harm competition, online businesses and consumers and from reducing incentives to innovate.

“Big Tech has a track record of unfairly limiting consumer choices and thwarting free-market competition. The American Innovation and Choice Online Act would help offer consumers more options at competitive prices from businesses online, which is what the American economy is supposed to do best,” said Kennedy. 

“American prosperity was built on a foundation of open markets and fair competition, but right now our country faces a monopoly problem, and American consumers, workers, and businesses are paying the price. As dominant digital platforms—some of the biggest companies our world has ever seen—increasingly give preference to their own products and services, we must put policies in place to ensure small businesses and entrepreneurs still have the opportunity to succeed in the digital marketplace. This bill will do just that, while also providing consumers with the benefit of greater choice online. I’m proud to introduce this much-needed legislation alongside Senator Grassley, Chair Durbin, and a bipartisan group of our colleagues, and I look forward to it passing the Senate and being signed into law,” said Klobuchar.

“As Big Tech has grown and evolved over the years, our laws have not changed to keep up and ensure these companies are competing fairly. These companies have continued to become a larger part of our everyday lives and the global economy, controlling what we see and how we engage on the internet. Big Tech needs to be held accountable if they behave in a discriminatory manner. Our bill will help create a more even playing field and ensure that small businesses are able to compete with these platforms,” said Grassley.

The American Innovation and Choice Online Act would set clear, effective rules to protect competition and users doing business on dominant online platforms.

The bill would prohibit dominant platforms from abusing their gatekeeper power by favoring their own products or services, disadvantaging rivals or discriminating among businesses that use their platforms in a way that harms competition on the platform.

It would also prohibit specific forms of conduct that are harmful to small businesses, entrepreneurs and consumers, but that do not have any pro-competitive benefit, including:

• Preventing another business’s product or service from interoperating with the dominant platform or another business;
• Requiring a business to buy a dominant platform’s goods or services for preferred placement on its platform;
• Misusing a business’s data to compete against it; and 
• Biasing search results in favor of the dominant firm.

The American Innovation and Choice Online Act would give antitrust enforcers strong, flexible tools to deter violations and hold dominant platforms accountable when they engage in illegal behavior.

The bill would keep the most economically significant online platforms—ones with large U.S. user bases that function as “critical trading partners” for online businesses—from self-preferencing and discriminatory conduct.

This American Innovation and Choice Online Act is cosponsored by Sens. Dick Durbin (D-Ill.), Lindsey Graham (R-S.C.), Richard Blumenthal (D-Conn.), Cory Booker (D-N.J.), Cynthia Lummis (R-Wyo.), Mazie Hirono (D-Hawaii), Mark Warner (D-Va.), Josh Hawley (R-Mo.) and Steve Daines (R-Mont.).

Text of the American Innovation and Choice Online Act is available here.

WASHINGTON – The Senate has passed a resolution from Sens. John Kennedy (R-La.) and Chris Coons (D-Del.) designating Oct. 10-16 as National Wildlife Refuge Week. The resolution praises the benefits of national wildlife refuges and recognizes their role in promoting hunting, fishing and conservation.

“As a sportsman, I’m thankful for the role national refuges play in conserving Louisiana’s vibrant wildlife. Louisianians are natural stewards of the environment because we know how important our wetlands are for protecting our fish, waterfowl and other species. National Wildlife Refuge Week gives everyone a chance to highlight America’s natural beauty and how we can preserve it together,” said Kennedy. 

“The National Wildlife Refuge System is vital to the protection of American wildlife and recreation, and I am proud to highlight its importance by advancing this resolution with my friend and colleague, Senator Kennedy. In Delaware, Bombay Hook and Prime Hook National Wildlife Refuges are essential habitats for our wildlife and provide recreational opportunities for Delawareans across the state. I look forward to continuing to support and protect our rich and diverse public lands,” said Coons. 

The National Wildlife Refuge System generates more than $3.2 billion for local economies and supports 41,000 jobs.

Louisiana hunters have played an important part in conserving wetlands, establishing new wildlife habitats and increasing the duck population in the U.S.

Text of the resolution is available here.