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ARTICLE · 30 JULY 2023

Congress Takes A Step Forward On Outbound Investment

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The U.S. government continues to move closer to establishing a regulatory program related to outbound investment—and potentially a range of other transactions...

United StatesGovernment, Public Sector
Clete R. Willems
Clete R. Willems
Laura Black
Laura Black
Christian Davis
Christian Davis
Katherine P. Padgett
Katherine P. Padgett
Eric C. Ettorre
Eric C. Ettorre
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The U.S. government continues to move closer to establishing a regulatory program related to outbound investment—and potentially a range of other transactions—in sensitive technology sectors involving China, Russia and other "countries of concern."

  • On July 25, 2023, the Senate voted 91-6 to add a provision to the 2024 National Defense Authorization Act (NDAA) that would require U.S. persons to notify the government of certain transactions in countries of concern related to advanced semiconductors and microelectronics, artificial intelligence and quantum, among other advanced technologies.
  • The Senate's strong support for this provision suggests that it has a good chance of being included in the final version of the NDAA, which will likely be adopted late in the year. However, key members of the House of Representatives have raised concerns about the provision and may look for alternatives to address the issue.

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