Foreign Investment Review Monitoring and Commitment Tracking Oversight Board Act
- Bill Number
- H.R. 9284
- Origin Chamber
- House
- Congress
- 119th Congress, Session 2
- Policy Area
- International Affairs
- Status
- Introduced
- Latest Action
- 2026-06-11: Referred to the Committee on Ways and Means, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
- Last Updated
- 2026-06-26T22:26:24Z
AI-Generated Summary
Summary of H.R. 9284
Purpose
This legislation establishes the Foreign Investment Review Authority (FIRA) to identify and track foreign investment commitments made to the United States, review related investments for compliance and benefits, and ensure fulfillment of those commitments. It aims to monitor whether such investments deliver net economic benefits while enforcing ethics and transparency rules.
Key Provisions
- Definitions: Establishes terms such as "covered foreign investment commitment" (commitments from trade deals, tariff responses, or executive negotiations), "qualified investment" (those meeting specific criteria), "net economic benefit" (factors like job creation, domestic growth, and avoiding excess capacity), and "quality job" (wages above median, benefits, union neutrality).
- FIRA Structure: Creates an independent authority led by a board of directors (presidential appointees, including designees from Commerce, Justice, and Labor, plus bipartisan members). Includes a Chief Ethics Officer with a Public Oversight Board for complaints and a 6-year term.
- Commitment Identification: Requires FIRA to publicly list commitments, amounts, dates, and related investments. Automatically includes specific commitments from China, Japan ($550 billion), South Korea ($350 billion), and Taiwan ($500 billion) upon enactment.
- Notice and Disclosure Rules: Mandates investor notifications, quarterly updates, ownership lists, and attestations on net economic benefit. Requires senior officials to disclose personal or family benefits from investments, with civil penalties up to 10% of investment value for violations.
- Investment Review Process: FIRA reviews investments to classify them as covered or qualified, applying heightened scrutiny for certain nations. Prohibits qualification for investments linked to forced labor entities, ethics violations, or personal benefits to officials. Allows appeals and mitigation agreements.
- Mediation and Prohibition: Permits FIRA to mediate terms for non-qualified investments or suspend/prohibit them.
- Ethics Application: Extends federal ethics and transparency laws (e.g., conflict rules, disclosure requirements) to parties involved in covered investments.
- Fulfillment Tracking: Requires public calculations of qualified investments toward commitments; mandates presidential negotiations if shortfalls occur after 4 years.
- Reporting: Mandates annual congressional reports, semiannual public reports on jobs and inputs, and quarterly ethics reports.
Significant Changes to Existing Law
This bill introduces a new oversight framework focused on post-commitment compliance, distinct from prior trade or investment authorities. It adds mandatory public tracking, specific labor and economic criteria for qualification, and ethics extensions to private and foreign parties. It also creates automatic commitments for select countries and ties non-compliance to diplomatic negotiations.
Potential Impacts
- Government Agencies: Expands roles for Commerce, Justice, and Labor through board designees; requires interagency cooperation and creates new ethics and oversight structures within FIRA.
- Citizens: May promote investments meeting quality job standards and net economic benefits, with increased public access to investment details and complaint mechanisms.
- International Relations: Could affect negotiations with countries like China, Japan, South Korea, and Taiwan by enforcing commitment tracking, potentially leading to diplomatic discussions on shortfalls.
Main Stakeholders Affected
- Foreign governments and investors (particularly from China, Japan, South Korea, and Taiwan).
- U.S. businesses receiving investments and their employees.
- Federal agencies involved in trade, labor, and justice.
- Labor organizations and the public via oversight boards and reporting.
Notable Legal, Constitutional, or Political Implications
The bill relies on presidential appointments with Senate confirmation and establishes independent ethics oversight removable only for gross misconduct. It incorporates due process elements like appeals to district courts and supermajority board votes for reversals. Politically, it emphasizes bipartisan and labor representation on boards while focusing on union protections and transparency in foreign investments.
This summary was generated by AI and may contain inaccuracies. Refer to the official source document for the authoritative text.
Sponsor
Cosponsors (3)
Rep. Dingell, Debbie [D-MI-6], Rep. Brown, Shontel M. [D-OH-11], Rep. Suozzi, Thomas R. [D-NY-3]
Recent Actions
- 2026-06-11: Referred to the Committee on Ways and Means, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
- 2026-06-11: Referred to the Committee on Ways and Means, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
- 2026-06-11: Introduced in House
- 2026-06-11: Introduced in House
Bill Versions
- Foreign Investment Review Monitoring and Commitment Tracking Oversight Board Act — issued 2026-06-11 — PDF (27 pages)