Combatting China in the 118th
This week, I and select members of Congress, many from the Texas delegation, reintroduced the Foreign Adversary Risk Management (FARM) Act. This act is a ground-breaking piece of legislation and is a first step in combating the maligned efforts of the Chinese Communist Party (CCP). The FARM Act will bolster the influence of the U.S. agriculture industry on the Committee on Foreign Investment in the United States (CFIUS), the body that oversees the vetting process of foreign investment and acquisition of American companies. CFIUS will be allowed to monitor agriculture investments and identify national security threats.
For too long, foreign entities have been buying U.S. agriculture, while we have had little idea of whether they share America’s interests. Right now, 28.3 MILLION acres of our agricultural land, valued at $52.2 BILLION, is controlled by foreign investors. That is about the size of the State of Ohio and makes up approximately 2.2% of farmland in the United States. Moreover, Texas ranks within the top 2 states with land controlled by foreign investment.
This trend has been spurred by CCP-backed investments, which have grown tenfold since 2009. Needless to say, the Chinese regime does not wish for America to flourish and their investment in our agricultural land gives them a presence in the American food system. This poses a significant national security risk, as it affords China the opportunity to undermine our food and investment industries. The United States farmland is a critical piece of infrastructure and should continue to be recognized as such. Our food insecurity is a matter of national security. The FARM Act will allow us to better combat maligned foreign investments in agriculture and protect the American people. I am proud to stand next to my fellow members of Congress during this renewed effort to secure American interests.
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The Subcommittee on Oversight and Investigations is charged with rooting out and disposing of burdensome fiscal regulations that are punitive to hard-working Americans and have stifled our nation’s economic growth. As well the Subcommittee on Capital Markets specifically oversees the agenda of the SEC. Federal agencies, including the SEC, have implemented policies with disastrous consequences for the American taxpayer, including many constituents back home. As a member of both subcommittees, I will be able to lead my colleagues on FSC in reinstituting free enterprise policies to protect Texans back home.
I hope you will feel the same calling also. It’s a call that has deep meaning and is right in front of you. There are always characteristics of someone in distress and characteristics of people who are taking advantage of others. Unbound Now and other organizations don’t just want to open your eyes but also want your tangible support. I hope to compel you to place yourself in a position to look out for the vulnerable in your local community. 
