The House Financial Services Committee has advanced multiple bills out of committee that aim to counter threats posed by the Chinese Communist Party (CCP). Two of the bills pertain to land purchases, another would impose sanctions on companies that support China's defense and surveillance technology sectors, and a fourth would impose sanctions on people and organizations that facilitate the use of spyware.
H.R. 3378, the Agricultural Security Risk Review Act, was introduced by Rep. Frank Lucas (R-OK) and intends to ensure that the Agriculture Secretary is involved in foreign purchases of U.S. farmland and agribusiness. Rep. Blaine Luetkemeyer (R-MO) introduced H.R. 5409, the Safeguarding American Farms from Foreign Influence Act, which would include the Treasury Department in consideration of agriculture cases that have been referred by the Agriculture Department to the Council on Foreign Investment in the United States (CFIUS) for review.
A report authored by Adam Savit of the America First Policy Institute in April found that between 2010 and 2020, U.S. farmland owned by entities associated with the CCP increased from 13,720 to 352,140 acres, valued at approximately $1.9 billion. Savit stated that "securing and dominating world food supply chains is an integral part of China’s Belt and Road Initiative" and acquiring land in the U.S. is a key part of the CCP's plan.
Another bill that advanced out of the House Financial Services Committee on Sept. 20 was the Chinese Military and Surveillance Company Sanctions Act, introduced by Rep. Andy Barr (R-KY). The bill would require the President to impose sanctions on Chinese companies that support China's defense and surveillance technology sectors. Committee Chairman Patrick McHenry (R-NC) stated that the bill limits China's ability to wage war and confronts the generational threat posed by the CCP without sacrificing core American values.
The Combatting Foreign Surveillance Spyware Sanctions Act was introduced by Rep. Jim Himes (D-CT) and aims to ensure that U.S. national security policy keeps pace with technological advancements. The proposed legislation would authorize sanctions on individuals and organizations that facilitate the use of spyware, including spyware that could target members of the U.S. government or intelligence community.
U.S. government entities, including the Office of Management and Budget, the Departments of State, Defense, Energy and Commerce, as well as the IT, finance, defense, and scientific research sectors, have recently faced cybersecurity attacks from countries like China and Russia.
