Bill to beef up ag representation in foreign acquisitions
Bipartisan legislation has been introduced into the Senate to protect U.S. agricultural interests in foreign acquisitions.
Senators Chuck Grassley of Iowa and Debbie Stabenow of Michigan have introduced the Food Security is National Security Act of 2017 to give U.S. agriculture and food officials permanent representation on the Committee on Foreign Investment in the United States.
Grassley says the bill will permanently add the Secretaries of Agriculture and Health and Human Services to the committee. He says approval by the Foreign Investment Committee needs to be more strategic and consider the future of the food industry. “With increasing numbers of American agriculture firms being purchased by foreign investors, this legislation is needed now more than ever before.”
Stabenow says the bill will help safeguard the country’s food security, safety, biosecurity and farm sector.
The legislation is supported by the American Farm Bureau Federation and National Farmers Union. NFU President Roger Johnson says potential impacts on global and domestic food security should a top concern of the country’s national security and the bill would increase scrutiny on food security implications.
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