Republican Senators Introduce Bill to Bolster CFIUS Reviews of Genetic Data Transactions
Republican Sens. Marco Rubio of Florida and John Cornyn of Texas introduced a bill to bolster the ability of U.S. foreign investment reviews to cover genetic information. The Genomics Expenditures and National Security Enhancement Act would require mandatory filings to the Committee on Foreign Investment in the U.S. for “any deal” that involves a company working with genetic information, Rubio said May 20. Under the bill, CFIUS would be required to consult with the Department of Health and Human Services on any deal that involves a “genetic data transaction,” which would increase “cross-agency awareness” of these transactions. The bill would also require CFIUS to include the Senate’s Select Committee on Intelligence and the Foreign Relations Committee in its briefings.
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Rubio said the bill will address Chinese efforts to collect U.S. genomic data. “There is no reason for American taxpayers to be funding Beijing’s research or for our policies to enable access to American’s genomic data,” Rubio said. “It’s imperative that Congress take steps to confront this growing national security and privacy threat.”