Quantcast

Hoosier State Today

Saturday, November 23, 2024

Bipartisan Senate bill seeks greater oversight on foreign ownership of U.S. farmland

Webp x7klv55eyic1ql9685i4p3tpe8u2

Senator Mike Braun, US Senator for Indiana | Official U.S. Senate headshot

Senator Mike Braun, US Senator for Indiana | Official U.S. Senate headshot

Today, a bipartisan group of Senators introduced the Protecting American Agriculture from Foreign Adversaries Act of 2024. The bill aims to add the Secretary of Agriculture to the Committee on Foreign Investment in the United States (CFIUS), enhancing scrutiny over foreign acquisitions of U.S. farmland and agricultural industries. This measure specifically targets farmland purchases by foreign adversaries such as China, North Korea, Russia, and Iran.

Senator Mike Braun highlighted the urgency of this legislation, stating: “Chinese ownership of American farmland increased more than 20-fold in the past decade. The amount of American soil in the hands of our foreign adversaries will only go up if we do not implement restrictions and oversight, especially on nations that compromise our national security and agricultural supply chains. I’m proud to lead this effort to protect American farms and food security.”

Senator Tommy Tuberville echoed these concerns: “Joe Biden and Kamala Harris have bowed to China every chance that they get—even when it comes to our agriculture industry. In the last decade alone, we have seen a surge of over 35% in foreign land purchases—including in my home state of Alabama. We can’t give our adversaries like China, Russia, North Korea, and Iran room to negatively influence our agricultural supply chains and food production.”

Senator Jon Tester added: “Allowing foreign adversaries like the Chinese Communist Party to purchase American farmland and agribusiness poses an unacceptable risk to our food security and national security. Congress needs to act, and our bipartisan bill will secure much-needed oversight to help stop bad actors who want to undermine our country.”

Other senators also voiced their support for the bill:

- Senator Tom Cotton stated: “The purchase of American land by our adversaries like the Chinese Communist Party drains our country of resources and puts our national security at risk.”

- Senator Joe Manchin remarked: “This commonsense bill gives the Secretary of Agriculture a permanent review role on CFIUS.”

- Senator Chuck Grassley emphasized: “When adversarial foreign governments buy up U.S. farmland, it undermines economic opportunities for families across America’s Heartland.”

- Senator John Barrasso noted: “The Chinese Communist Party has proven over and over again they cannot be trusted.”

- Senator Katie Britt asserted: "Food security is national security."

- Senator Todd Young commented: "Recent efforts by China and other adversaries to buy agricultural land across the country could present a national security threat."

Representative Dan Newhouse introduced similar legislation in the House where it is expected to move forward this week.

The Protecting American Agriculture from Foreign Adversaries Act is sponsored by several organizations including Indiana Farm Bureau, American Farm Bureau, Indiana Soybean Alliance, and Indiana Corn Growers Association.

MORE NEWS