The Senate voted 54-45 late March 13 to confirm Washington trade lawyer Jeffrey Kessler to be undersecretary of commerce for industry and security. The vote came a week after the Senate Banking Committee approved Kessler’s nomination along party lines (see 2503060043). Kessler has said he would conduct a host of reviews at the Bureau of Industry and Security, including whether the agency needs more statutory authorities to do its job (see 2503060043).
Sen. John Cornyn, R-Texas, introduced a bill March 13 to restrict U.S. outbound investment in China, the latest of several attempts to pass legislation on a topic many lawmakers consider critical to national security.
Sen. Jim Banks, R-Ind., and Rep. John Moolenaar, R-Mich., reintroduced a bill March 11 to prohibit most private-sector retirement plans from investing in companies based in “foreign adversary” countries, including China, Russia, Iran and North Korea.
The U.S. shouldn't ease sanctions on Russia if Moscow accepts a proposed 30-day ceasefire with Ukraine, two members of the Senate Foreign Relations Committee said.
Sens. Sheldon Whitehouse, D-R.I., and Chuck Grassley, R-Iowa, asked the Treasury Department on March 10 to provide the legal basis for its decision to exclude U.S. citizens and companies from implementation of the Corporate Transparency Act.
The Treasury Department included its Office of Terrorism and Financial Intelligence (TFI) in the Trump administration’s hiring freeze but is now considering giving it relief from the pause due to its national security role, the department told lawmakers.
A House Republican proposal to pass a temporary government spending measure, or continuing resolution (CR), for the rest of FY 2025 would prevent Congress from weighing in on export control policy, such as by opposing the easing of restrictions on Russia, according to a memo released March 8 by Senate Appropriations Committee ranking member Patty Murray, D-Wash.
House Select Committee on China Chairman John Moolenaar, R-Mich., asked the Bureau of Industry and Security to brief his panel on how it's restricting China’s access to U.S. university supercomputers.
The House Financial Services Committee unanimously approved several bills March 5 dealing with foreign investment and sanctions.
Deputy Treasury Secretary nominee Michael Faulkender said March 6 he wants to study whether changes should be made to the Biden administration’s October 2024 rule restricting outbound investment in China (see 2410280043).