Senate votes to tighten foreign investment rules

[Judi Lynn]

Senate votes to tighten foreign investment rules
Wed Jul 26, 2006 4:26pm ET

WASHINGTON (Reuters) - The U.S. Senate on Wednesday voted to tighten rules for approving foreign takeovers of American companies, prompted by an uproar over the administration's backing of an Arab company's acquisition of the operations of several major U.S. ports.

But a fight was brewing with the House of Representatives, which was expected to pass a different version of the legislation later on Wednesday.

The Senate bill, passed by voice vote and sponsored by Alabama Republican Richard Shelby, would require the U.S. government to spend an extra 45 days examining deals with foreign state-owned companies for national security concerns.

This provision is included in the House version. But some House members oppose another part of the Senate bill that would require the executive branch to notify Congress of proposed U.S. acquisitions by a foreign company before they are approved.
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http://today.reuters.com/news/newsArticle.aspx?type=politicsNews&storyID=2006-07-26T202615Z_01_N26418915_RTRUKOC_0_US-SECURITY-FOREIGNINVESTMENTS.xml&archived=False

[Joanne98]

1. AFTER they voted for the Omar trade agreement which sells our

ports to foreign companies. Gawd I'm sick of this bull shit.

[no_hypocrisy]

2. How about foreign corporations being the lessors of our

public highways like in Indiana?