The U.S. wants to expand a Treasury Committee's Jurisdiction, from a 2018 Law, to Review Land Sales near U.S. Military Sites, where Foreigners are the Majority Buyers.
The New Treasury Rulemaking, would expand the U.S. Committee on Foreign Investment in the United States' (CFIUS) Powers, to review Land Sales near 56 additional Military Sites, bringing the overall number to 227 Military Sites.
CFIUS is a little-known but Powerful Government Committee, tasked with Investigating Corporate Deals for National Security concerns that holds Power to force Companies to change Ownership Structures or Divest completely from the U.S.
It is made up of Members from: Commerce, Energy, Justice, and State, among others.
The Monday Rulemaking announcement, comes after President Biden in May, issued a Divestment Order Blocking a Chinese-backed Cryptocurrency Mining Firm, from owning Land near a Wyoming Nuclear Missile base, calling its Proximity to the Base a “National Security Risk.”
Treasury Secretary Janet Yellen said in a Statement, that the Biden Administration is “committed to using our strong investment screening tool to defend America’s national security, including actions that protect military installations from external threats.”
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