Description:
S. 2098 aims to expand, modernize, and strengthen the operations of the Committee on Foreign Investment in the United States (CFIUS). CFIUS is an interagency committee that considers the national security implications of foreign investment in the U.S. economy. CBO estimates that implementing S. 2098 would cost $100 million over the 2019-2023 period, assuming appropriation of the necessary amounts. Enacting the bill could affect revenues; therefore, pay-as-you-go procedures apply. However, CBO estimates that under the bill no revenues would be collected. Enacting the bill would not affect direct spending. CBO estimates that enacting S. 2098 would not increase net direct spending or on-budget deficits in any of the four consecutive 10-year periods beginning in 2029. S. 2098 would impose a private-sector mandate as defined in the Unfunded Mandates Reform Act (UMRA) by requiring certain transactions between foreign and domestic entities to be reviewed by CFIUS. CBO estimates that the cost to domestic entities to comply with the mandate would fall below the threshold established in UMRA ($160 million in 2018, adjusted annually for inflation). The bill contains no intergovernmental mandates as defined in UMRA.
