Text of Senate Amendment 6195

On 2026-06-24, Senator Tammy Baldwin (D-WI) delivered a floor speech titled "Text Of Senate Amendment 6195" in the Senate.

Text of Senate Amendment 6195

Congressional Record, Volume 172 Issue 106 (Wednesday, June 24, 2026) [Congressional Record Volume 172, Number 106 (Wednesday, June 24, 2026)] [Senate] [Pages S3375-S3377] From the Congressional Record Online through the Government Publishing Office [ www.gpo.gov ] SA 6195. Ms. BALDWIN submitted an amendment intended to be proposed by her to the bill S. 4784, to authorize appropriations for fiscal year 2027 for military activities of the Department of Defense, for military construction, and for defense activities of the Department of Energy, to prescribe military personnel strengths for such fiscal year, and for other purposes; which was ordered to lie on the table; as follows: At the end of division A, add the following: TITLE XVII--FOREIGN INVESTMENT REVIEW MONITORING SEC. 1701. SHORT TITLE. This title may be cited as the ``Foreign Investment Review Monitoring and Commitment Tracking Oversight Board Act'' or the ``FIRM Commitment Tracking Oversight Board Act''. SEC. 1702. DEFINITIONS. In this title: (1) Covered foreign investment commitment.--The term ``covered foreign investment commitment'' means a commitment by a foreign country to invest in the United States made-- (A) as part of a trade agreement; (B) in response to tariffs, embargoes, or other punitive trade measures imposed or having the potential to be imposed pursuant to-- (i) section 122, 201, 232, 301, or 406 of the Trade Act of 1974; or (ii) any other trade or economic authority of the United States; or (C) as a result of negotiations or solicitations with representatives of the executive branch or any individual acting on behalf of or at the behest of the executive branch, including any persons affiliated with the executive branch. (2) Covered investment.--The term ``covered investment'' means an investment intended by the person making the investment, the government of the country in which such person is located, or the United States Government to count towards a covered foreign investment commitment. (3) Family member.--With respect to an individual, the term ``family member'' has the meaning given that term in section 9832(d) of the Internal Revenue Code of 1986. (4) FIRA.--The term ``FIRA'' means the Foreign Investment Review Authority. (5) Net economic benefit.--With respect to an investment, the investment provides a ``net economic benefit'' to the United States if the investment-- (A) promotes domestic growth and production; (B) creates and retains quality jobs in the United States; (C) creates and retains jobs that are accessible to workers without a college degree, such as through a registered apprenticeship program or other workforce training program; (D) does not contribute to creating greater global or domestic excess capacity in the applicable sector of the economy; (E) does not undermine existing businesses in the United States, including by undermining such businesses' ability to compete domestically or internationally; and (F) creates integrated demand for domestically-sourced materials and does not primarily promote the creation or continuance of an assembly facility utilizing foreign- produced components. (6) Obligation date.--With respect to a covered foreign investment commitment, the obligation date is the date on which the commitment is made. (7) Person.--The term ``person''-- (A) has the meaning given that term in section 1 of title 1, United States Code; and (B) includes an entity or government. (8) Qualified investment.--The term ``qualified investment'' means an investment that qualifies to count towards a covered foreign investment commitment, as determined by FIRA under section 1706. (9) Quality job.--With respect to an investment, the term ``quality job'' means a job-- (A) that provides at least 30 hours of work per week; (B) that is a job with compensation that-- (i) is equal to or exceeds the compensation of existing similarly-situated jobs in the United States; (ii) except with respect to a managerial job, includes a wage that is higher than the median wage of the State in which the job is located (or, if not located in a State, the nearest State); and (iii) includes comprehensive health care, defined benefit pension, and other family-sustaining benefits; and (C) located at a facility in the United States where the employer-- (i) ensures neutrality in any union organizing drive; and (ii) with respect to an investment where the investing person has a union or employees works council at any facility in the home country of the person, provides similar opportunities to employees located at such United States facility as are provided at the facility in the home country. (10) Registered apprenticeship program.--The term ``registered apprenticeship program'' means an apprenticeship registered under the Act of August 16, 1937 (commonly known as the ``National Apprenticeship Act''; 50 Stat. 664, chapter 663; 29 U.S.C. 50 et seq.) that meets the standards of subpart A of part 29 and part 30 of title 29, Code of Federal Regulations. (11) State.--The term ``State'' means each of the several States, the District of Columbia, and each territory of the United States. SEC. 1703. FOREIGN INVESTMENT REVIEW AUTHORITY. (a) Establishment.--There is established the Foreign Investment Review Authority. (b) Board of Directors.-- (1) Members.--The head of FIRA shall be a board of directors consisting of the following: (A) The Chair, who shall be appointed by the President, by and with the advice and consent of the Senate; (B) A designee of the Secretary of Commerce. (C) A designee of the Attorney General. (D) A designee of the Secretary of Labor. (E) Four members appointed by the President, by and with the advice and consent of the Senate, from among individuals who are not of the same political party as the President. (2) Term.--Each member of the board of directors of FIRA shall serve a 4-year term. (c) Conflicts of Interest.--FIRA shall establish conflict of interest requirements applicable to the members of the board of directors and the employees of FIRA that ensure there are no conflicts of interest regarding the review of investments by FIRA. (d) Office of the Chief Ethics Officer.-- (1) In general.--There is established within FIRA the Office of the Chief Ethics Officer, which shall be headed by the Chief Ethics Officer. (2) Appointment.--The Chief Ethics Officer shall be appointed by FIRA, subject to the advice and consent of the Senate. (3) Term.--The Chief Ethics Officer shall serve a 6-year term. (4) Removal authority.--The Chief Ethics Officer may only be removed for gross misconduct. (e) Public Oversight Board.-- (1) Establishment.--There is established within the Office of the Chief Ethics Officer a Public Oversight Board. (2) Members.--The Public Oversight Board shall consist of the following: (A) One member appointed by the Speaker of the House of Representatives. (B) One member appointed by the Minority Leader of the House of Representatives. (C) One member appointed by the Majority Leader of the Senate. (D) One member appointed by the Minority Leader of the Senate. (E) One member representing organized labor organizations, appointed by the members appointed under subparagraphs (A) through (D). (3) Term.--The term of a member of the Public Oversight Board shall be 3 years, and an individual may not serve as a member of the Public Oversight Board for more than one term in any 10-year period. (f) Complaint Process.-- (1) In general.--The Chief Ethics Officer shall establish a method for persons to submit complaints to the Chief Ethics Officer or Public Oversight Board. Both the Officer and the Board shall create mechanisms for such complaints to be received by identified persons or anonymous persons. (2) Deadline for response.--The Chief Ethics Officer and the Public Oversight Board shall respond to each complaint received under this subsection within the 30-day period beginning on the date the complaint was received, and such response shall include a substantive adjudication as to the merits of the complaint. (g) Rulemaking Authority.--FIRA may issue such rules as may be necessary to carry out this title. SEC. 1704. IDENTIFICATION OF COVERED FOREIGN INVESTMENT COMMITMENTS. (a) In General.--FIRA shall identify all covered foreign investment commitments and make available to the public on a website-- [[Page S3376]] (1) a list of such commitments, including the name of the investing person (including any beneficial owners thereof), the name of the person receiving the investment (including any beneficial owners thereof), and the location of the commitment; (2) the amount of each such commitment; (3) the obligation date of each such commitment; (4) activities performed under any qualified investments with respect to each such commitment; (5) any potential or actual conflicts of interests examined or identified in the context of-- (A) each such commitment; and (B) any qualified investment with respect to each such commitment; and (6) any other relevant information specified by the board of directors of FIRA. (b) Initial Covered Foreign Investment Commitments.--On the date of enactment of this Act, the following covered foreign investment commitments shall be deemed to exist: (1) A covered foreign investment commitment by the People's Republic of China by the U.S.-China Board of Trade or Board of Investment or any comparable institution, whether formal or informal in nature, in an amount and with an obligation date as determined by FIRA. (2) A covered foreign investment commitment by Japan in the amount of $550,000,000,000, with the obligation date of the date of enactment of this Act. (3) A covered foreign investment commitment by South Korea in the amount of $350,000,000,000, with the obligation date of the date of enactment of this Act. (4) A covered foreign investment commitment by Taiwan in the amount of $500,000,000,000 with the obligation date of the date of enactment of this Act. SEC. 1705. NOTICE REQUIREMENTS. (a) Inv