,,ii #aacth ,,congress #ast ,session ,s4 #ajbc ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,may #bb1 #bjac ,mr4 ,corker 7for himself1 ,ms4 ,klobuchar1 ,mr4 ,blunt1 and ,mrs4 ,hagan7 introduced the following bill2 which was read twice and referred to the ,committee on ,commerce1 ,science1 and ,transportation ,a ,,bill ,to direct the ,secretary of ,commerce1 in coordination with the heads of other relevant ,federal departments and agencies1 to conduct an interagency review of and report on ways to increase the competitiveness of the ,united ,states in attracting foreign direct investment4 #a4 ,short title ,this ,act may be cited as the ,global ,investment in ,american ,jobs ,act of #bjac4 #b4 ,findings ,congress finds the following3 7#a7 ,it remains an urgent national priority to improve economic growth and create new jobs4 7#b7 ,national security requires economic strength and global engagement4 7#c7 ,businesses today have a wide array of choices when considering where to invest1 expand1 or establish new operations4 7#d7 ,administrations of both parties have consistently reaffirmed the need to maintain an open investment climate as a key to domestic economic prosperity and security4 7#e7 ,the ,united ,states has historically been the largest worldwide recipient of foreign direct investment but has seen its share decline in recent years4 7#f7 ,the ,united ,states faces increasing competition from other countries as they work to recruit investment from global companies4 7#g7 ,foreign direct investment can benefit the economy and workforce of every ,state and ,commonwealth in the ,united ,states4 7#h7 ,according to the latest ,federal statistics1 the ,united ,states subsidiaries of companies headquartered abroad contribute to the ,united ,states economy in a variety of important ways1 including by-- 7,a7 providing jobs for nearly #e1fjj1jjj people in the ,united ,states with compensation that is often higher than the national private-sector average1 as many of these jobs are in high-skilled1 high-paying industries2 7,b7 strengthening the ,united ,states industrial base and employing nearly #ae percent of the ,united ,states manufacturing sector workforce2 7,c7 establishing operations in the ,united ,states from which to sell goods and services around the world1 thereby producing nearly #ah percent of ,united ,states exports2 7,d7 promoting innovation with more than #da1jjj1jjj1jjj in annual ,united ,states research and development activities2 7,e7 paying nearly #ad percent of ,united ,states corporate income taxes2 and 7,f7 purchasing goods and services from local suppliers and small businesses1 worth hundreds of billions of dollars annually4 7#i7 ,these companies account for #e4h percent of ,united ,states private sector ,gross ,domestic ,product 7,,gdp74 7#aj7 ,the ,department of ,commerce and the ,department of ,state have initiatives in place to increase foreign direct investment4 7#aa7 ,president ,barack ,obama issued a statement in #bjaa reaffirming the longstanding open investment policy of the ,united ,states and encouraged all countries to pursue such a policy4 7#ab7 ,president ,obama signed an ,executive order in #bjaa to establish the ,select,u,s,a initiative and expanded its resources and activities in #bjab1 aimed at promoting greater levels of business investment in the ,united ,states4 7#ac7 ,the ,president's ,council on ,jobs and ,competitiveness in #bjaa recommended the establishment of a ,national ,investment ,initiative to attract #a1jjj1jjj1jjj1jjj in foreign direct investment over five years4 #c4 ,sense of congress ,it is the sense of ,congress that-- 7#a7 the ability of the ,united ,states to attract foreign direct investment is directly linked to the long-term economic prosperity1 global competitiveness1 and security of the ,united ,states2 7#b7 in order to remain the most attractive location for foreign direct investment1 ,congress should be mindful of the potential impact upon the ability of the ,united ,states to attract foreign direct investment when evaluating proposed legislation2 7#c7 it is a top national priority to enhance the competitiveness1 prosperity1 and security of the ,united ,states by-- 7,a7 removing unnecessary barriers to foreign direct investment and the jobs that it creates throughout the ,united ,states2 and 7,b7 promoting policies to ensure the ,united ,states remains the premier global destination in which to invest1 hire1 innovate1 and manufacture their products2 7#d7 maintaining the ,united ,states commitment to open investment policy encourages other countries to do the same and enables the ,united ,states to open new markets abroad for ,united ,states companies and their products2 and 7#e7 while foreign direct investment can enhance the economic strength of the ,united ,states1 policies regarding foreign direct investment should reflect national security interests and should not disadvantage domestic investors or companies4 #d4 ,foreign direct investment review 7a7 ,review ,the ,secretary of ,commerce1 in coordination with the ,federal ,interagency ,investment ,working ,group and the heads of other relevant ,federal departments and agencies1 shall conduct an interagency review of the global competitiveness of the ,united ,states in attracting foreign direct investment4 7b7 ,specific matters ,to be included ,the review conducted pursuant to subsection 7a7 shall include a review of-- 7#a7 the current economic impact of foreign direct investment in the ,united ,states1 with particular focus on manufacturing1 research and development1 trade1 and jobs2 7#b7 trends in global cross-border investment flows1 including an assessment of the current ,united ,states competitive position as an investment location for companies headquartered abroad2 7#c7 ,federal ,government policies that are closely linked to the ability of the ,united ,states to attract and retain foreign direct investment2 7#d7 ongoing ,federal ,government efforts to improve the investment climate1 reduce investment barriers1 and facilitate greater levels of foreign direct investment in the ,united ,states2 7#e7 innovative and noteworthy ,state1 regional1 and local government initiatives to attract foreign investment2 and 7#f7 initiatives by other countries in order to identify best practices for increasing global competitiveness in attracting foreign direct investment4 7c7 ,limitation ,the review conducted pursuant to subsection 7a7 shall not address laws and policies relating to the ,committee on ,foreign ,investment in the ,united ,states4 7d7 ,public comment ,prior to-- 7#a7 conducting the review under subsection 7a71 the ,secretary shall publish notice of the review in the ,federal ,register and shall provide an opportunity for public comment on the matters to be covered by the review2 and 7#b7 reporting pursuant to subsection 7e71 the ,secretary shall publish the proposed findings and recommendations to ,congress in the ,federal ,register and shall provide an opportunity for public comment4 7e7 ,report to congress ,not later than one year after the date of the enactment of this ,act1 the ,secretary of ,commerce1 in coordination with the ,federal ,interagency ,investment ,working ,group and the heads of other relevant ,federal departments and agencies1 shall report to ,congress the findings of the review required under subsection 7a7 and submit recommendations to make the ,united ,states more competitive in attracting foreign direct investment without undermining fundamental domestic labor1 consumer1 or environmental protections4