Treasury, Defense, Commerce officials back Cornyn CFIUS bill in Senate Banking hearing

The Trump administration on Thursday presented a unified front in favor of reforming and expanding the Committee on Foreign Investment in the United States, with officials from the Treasury, Commerce and Defense departments telling the Senate Banking Committee they back a bill pushed by Senate Majority Whip John Cornyn (R-TX) but want to avoid signaling that the U.S. is discouraging investment. The witnesses at the Jan. 25 hearing also stressed that CFIUS and export controls must remain complementary and not...