Lawmakers Reintroduce Bill to Expand CFIUS Jurisdiction Over Healthcare Data
Republican Sens. Marco Rubio of Florida and John Cornyn of Texas reintroduced a bill this week to expand U.S. foreign investment reviews to cover companies “working with genetic information.” The Genomics Expenditures and National Security Enhancement Act, originally introduced in 2021 (see 2105250022), would direct the Committee on Foreign Investment in the U.S. to “rewrite its regulations” to require mandatory filings for any foreign investments that involve genetic information. CFIUS would be required to consult with the Department of Health and Human Services on any deal that involves a “genetic data transaction,” and would be required to include the Senate’s Select Committee on Intelligence and the Foreign Relations Committee in its briefings.
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Cornyn said the bill is designed to prevent the Chinese government from collecting American healthcare data. “This legislation would confront this growing national security threat and ensure private genetic information doesn’t fall into the wrong hands,” he said.