White House Says Bill to Add USDA to CFIUS Is ‘Unnecessary’
The Biden administration opposes a House bill that would permanently add the agriculture secretary to the Committee on Foreign Investment in the U.S. to review agricultural transactions (see 2409050011), the White House Office of Management and Budget said Sept. 11.
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The administration considers the legislation “unnecessary” because the USDA secretary has been participating in CFIUS since 2021, OMB said. The bill also "would not be implementable as drafted," OMB added, without elaborating.
The House was expected to vote on the bill late Sept. 11. Sen. Mike Braun, R-Ind., introduced a companion bill in the Senate Sept. 10.