Terry Welcomes President’s Focus on Foreign Direct Investment, Urges Senate to Act on House-Passed Bill

October 31, 2013

WASHINGTON, DC – Commerce, Manufacturing, and Trade Subcommittee Chairman Lee Terry (R-NE) issued the following statement in response to the Commerce Department’s new report on the economic benefits of Foreign Direct Investment and President Obama’s remarks today at the inaugural SelectUSA 2013 Investment Summit:

“We all know that the U.S. remains the greatest destination for foreign direct investment, and I welcome the president’s commitment to recruiting more businesses and bringing jobs back to America. This is a goal shared by many in Congress across the political spectrum. The numbers out from the Commerce Department today are encouraging but challenges still remain. We must not become complacent with our current position. Our market share of global investment is not what it once was. The House recently approved my bill, the Global Investment in American Jobs Act, with broad bipartisan support to help make America more competitive in attracting business. I urge the Senate to act on this important piece of legislation, and given the president’s remarks today, he should welcome the legislation and swiftly sign the bill so we can get more Americans back to work.”