Background
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The global events of the last two years have been anything but
ordinary. The world succumbed to the global COVID-19 pandemic,
a trade war between the US and China does not appear to be
CNCC Specifics
relaxed and Russia invaded Ukraine. These events,
collectively have shifted certain trends in the United States To see also : Karma Developers and Real Estate launches new investment opportunities in the UK..
government both at home and abroad. One such shift is
growing bipartisan sentiment in Congress on foreign
opponents in favor of protecting US supply chains and capital
investment.
Recent bills express this sentiment. June
In 2021, the Senate passed the US Innovation and Competition Act
(“USICA”)1 and in February 2022, House
Looking Ahead
passed the creation of American manufacturing capabilities, To see also : National Heritage Grants Earned by Two New Mexico Artists.
Technological Advantage and Economic Strength Act (“America
competing law”).2 Both bills were drafted to boost
Competitiveness of the US economy while limiting US exposure
global supply chain risks, increasing scrutiny of the US
investing abroad.
On June 13, 2022, Senators John Cornyn (R-TX) and Bob Casey
(D-PA) proposed to match the spending of each bill
investment review mechanisms to form one comprehensive proposal:
National Critical Capabilities Protection Act of 2022
(“NCCDA”).3 NCCDA strictly follows
The senators’ previous proposal, National Critical Capabilities
The Defense Act of 2021, which later merged with America
competing law.4 Although the exact language of the NCCDA
is not publicly available, we expect it to be very similar
the language of its first iteration, which appeared in the American COMPETITIONS
the law.
NCCDA wants to create a national
To regulate and review Critical Capabilities (“CNCC”)
outbound US investment and business. Similarly
authorities granted to the Foreign Investment Committee
in the United States (“CFIUS”), the CNCC is given
the right to review and establish procedures for certain US
investments and business activities abroad.
