Mr. McCaul of Texas- Mr. Chairman, I rise today in support of this amendment, which requires the Secretary of the Treasury to include in his report information on the net effect of foreign investment on American jobs.

   While I support the underlying bill, this improves our oversight capability and gives the information to Congress that we need on how jobs will be impacted by foreign investment. Congress will be better informed on how our actions lead to the creation or outsourcing of American jobs overseas. This report is already required in the text. This amendment will ensure we have better oversight.

   The underlying bill is about, again, how foreign investments affect national security. There is no way to understand why foreign investments would be made here or what it would do to our economy without information, understanding the effect on jobs that foreign investments would have. I ask my colleagues to support this amendment.

   And I would like to respond, if I may, that it is hard to imagine how our taxation and regulatory process is not related to foreign investment. And when we look at taxation, regulatory policies in this country, and when we look at jobs, particularly jobs being outsourced in countries like China and India, when we talk about viability, I appreciate the chairman's arguments and the gentleman from New York and the gentlewoman from New York, but it is hard for me to differentiate and dissect how national security is not impacted by our economic security and economic viability. If we are not a global superpower anymore, if we are not economically viable in this country, if we are losing jobs in this country, if our taxation and regulatory burden is so cumbersome that we are discouraging investment, including foreign investment in this country, I would argue that we are impacting our national security.

   It is hard for me to conceive why the Congress wouldn't want this kind of information in evaluating our national security policies as they relate to economics. And the chairman, again, is an expert on financial security. I don't understand why you wouldn't want this information.