Global Investment in American Jobs Act Passes the House

Statement

Today, the House of Representatives passed H.R. 2052, the Global Investment in American Jobs Act, a bipartisan legislation introduced by Rep. Lee Terry (R-NE) and Rep. Schakowsky, the Chairman and Ranking Member of the Commerce, Manufacturing and Trade Subcommittee, respectively. The legislation establishes a study of the impact of foreign direct investment -- in which a foreign business develops or expands operations in the United States -- and requires an examination of how to attract further investment here at home. In doing so, the legislation takes into account both the positive and negative impacts of foreign direct investment on national security, domestic workers, and U.S. companies and investors -- a provision insisted upon by Rep. Schakowsky.

"This bill will ensure that we continue to drive foreign direct investment in the United States, promoting jobs and economic growth while protecting public health, the environment, and the rights of our workers.

"Illinois ranks number one in the Midwest in terms of foreign direct investment, with nearly 1,600 foreign-based firms employing more than 300,000 Illinois residents. Illinois has showcased its world-class transportation infrastructure, its diversified economy, its productive workforce, and cultural diversity and attractions. It has also maintained its strong labor, health, and environmental standards that help build the middle class, and I believe the study required in the Global Investment in American Jobs Act will help other states to follow the Illinois model.

"I was glad to work with Chairman Terry on this important legislation, and I look forward to our continued collaboration as we work to spur economic growth that will strengthen and expand the middle class."

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