Description:
H.R. 813 would require the Department of Commerce, the Government Accountability Office (GAO), and the Federal Interagency Investment Working Group to study and report to the Congress on the ability of the United States to attract foreign direct investment and barriers to foreign trade faced by advanced technology firms in the United States. Topics of study include the economic impact of foreign direct investment, challenges associated with foreign direct investment by state-owned enterprises, and the influence of protectionist policies enacted by other countries on the advanced technology economy. Using information from the department and based on the cost of similar studies, CBO estimates that implementing H.R. 813 would cost $2 million over the 2023-2028 period. Any spending would be subject to the availability of appropriated funds. CBO expects that the department would need about 12 economists and support staff, at an average cost of $180,000 each, to complete the study and prepare the report. CBO estimates that the cost for GAO and the Federal Interagency Investment Working Group to participate would be insignificant.
