Letter to Treasury Secretary Yellen on Adding U.S. Coast Guard Installations to CFIUS Jurisdiction

Chairman John Moolenaar (R-MI) of the House Select Committee on the Chinese Communist Party and Congressman Greg Murphy M.D. (R-NC) sent sent a letter urging United States Secretary of the Treasury, Janet Yellen to include U.S. Coast Guard facilities and other sensitive sites under the jurisdiction of the Committee on Foreign Investment in the United States (CFIUS). The letter also asks the Secretary to hold CFIUS reviews retroactively when a site is newly added to CFIUS’s list of sensitive sites. As our adversaries encroach on U.S. territory and Chinese Communist Party-affiliated land purchases increase across the United States, the lawmakers stress the importance of protecting Coast Guard bases just as we protect military bases in the CFIUS process.

“Xi Jinping would never allow Americans to buy land next to sensitive Chinese bases. Unfortunately, current U.S. policy all too often rolls out the red carpet for CCP land purchases. We must more effectively use CFIUS to stop our foremost adversary from purchasing US land, particularly CCP-aligned entities like Gotion, which wants to set up shop in my home state,” said Chairman John Moolenaar.

"Today, our adversaries are doing everything they can to undermine American sovereignty and security," said Congressman Greg Murphy, M.D. "This includes purchasing land on our soil to use for espionage and other belligerent purposes. While CFIUS coverage includes many military bases and other sensitive areas, U.S. Coast Guard facilities, National Laboratories, some maritime ports, and critical telecommunications and energy infrastructure are not included. This leaves the United States vulnerable to hostile nations and malicious actors. We cannot allow bad actors to purchase land in America to harm us. I'm grateful for the support of Chairman Moolenaar in recognizing our current security shortcomings and urge Secretary Yellen to consider these recommendations as the Department of the Treasury finalizes its proposed rule to expand CFIUS coverage."

Background:

The Committee on Foreign Investment in the United States (CFIUS) is an interagency committee, under the Department of the Treasury, authorized to review foreign investment and real estate transactions in the country to protect the national security of the United States. 

On July 8th, 2024, the U.S. Department of the Treasury issued a Notice of Proposed Rulemaking to add over 50 military installations, across 30 states, to the existing list of installations around which CFIUS has jurisdiction, including over land purchases.

View the lawmakers' letter to Secretary Yellen HERE