Biden Administration's Expansion of Control over Foreign Land Purchases Near U.S. Bases

SOURCE www.foxnews.com
The Biden administration is expanding the Treasury committee's ability to control foreign land purchases near U.S. bases, particularly focusing on Chinese companies. The new rule utilizes a 2018 law to protect nearly 60 military installations from potential threats.

Key Points

  • Expanding the Treasury's Committee on Foreign Investment in the United States' authority
  • Focusing on real estate transactions and asset transfers involving foreign actors
  • Protecting nearly 60 military installations from external threats

Pros

  • Protecting national security by scrutinizing foreign investments near military installations
  • Addressing concerns over Chinese influence on U.S. soil

Cons

  • Potential legal challenges to the new rule
  • Possible impact on foreign investment in the U.S.