Sponsors (3)
The bill expands CFIUS authority to catch risky non‑merger investments and clarifies filing rules to strengthen national security, but it increases compliance costs and review-related delays and could strain agency resources if not properly funded.
U.S. businesses (including critical-infrastructure and technology firms) will be subject to expanded CFIUS review of certain non‑merger investments — including greenfield and brownfield transactions that could grant control — enabling earlier detection and mitigation of hostile access, supply‑chain, or technology‑transfer risks.
Investors and U.S. partners will have clearer rules on when CFIUS filings are required because the bill applies existing eligibility definitions and limitations to the new investment trigger, reducing legal uncertainty for dealmakers.
Foreign investors and U.S. companies seeking foreign capital will face more transactions subject to CFIUS review, increasing compliance costs and deal delays and potentially reducing foreign investment or lengthening fundraising timelines for U.S. firms.
Taxpayers and federal agencies could face increased administrative burden if CFIUS workload grows without matching increases in staffing or funding, which may slow reviews and raise public costs.
Based on analysis of 2 sections of legislative text.
Expands CFIUS review to cover greenfield/brownfield investments by foreign persons from covered countries that could result in control of U.S. businesses.
Introduced April 9, 2025 by Bernardo Moreno · Last progress April 9, 2025
Expands the Committee on Foreign Investment in the United States (CFIUS) review rules to capture certain greenfield and brownfield investments by foreign persons from covered countries when those investments involve, or could lead to, control of a U.S. business (including through informal or concerted arrangements). The change makes such investments subject to CFIUS jurisdiction for transactions proposed or pending on or after the law takes effect, potentially increasing filings, reviews, and compliance requirements for affected investors and U.S. businesses.