Cornyn defends CFIUS bill at Banking Committee hearing; business reps sound alarm

Senate Majority Whip John Cornyn (R-TX) appeared as a witness before the Senate Banking Committee Thursday morning to pitch legislation to reform and expand the Committee on Foreign Investment in the United States, but a panel of academics and business representatives later voiced concerns about the bill’s breadth. The hearing came roughly a week after Rep. Andy Barr (R-KY) the chairman of the House Financial Services subcommittee, which oversees the foreign investment watchdog, pledged to move a CFIUS reform bill...