Backers of outbound investment mechanism announce ‘refined proposal’

House and Senate lawmakers backing legislation to create an outbound investment mechanism have agreed to a “refined proposal” they hope will be included in a broader competitiveness package focused on China, they said in a statement on Monday. Sens. Bob Casey (D-PA) and John Cornyn (R-TX), the two original sponsors of the plan, and Reps. Rosa DeLauro (D-CT), Bill Pascrell (D-NJ), Michael McCaul (R-TX), Brian Fitzpatrick (R-PA) and Victoria Spartz (R-IN) announced the new legislation was the product of “constructive...