Oversight of Foreign Ag Land Purchases
In a political discussion that’s been happening both at the state and federal levels, the U.S. House Committee on Financial Services recently advanced a bill supported by the National Cattlemen’s Beef Association that strengthens oversight of foreign agricultural purchases.
Introduced by Representative Frank Lucas, an Oklahoma Republican, the Agricultural Security Risk Review Act would add the Secretary of Agriculture as a member of the Committee on Foreign Investment in the United States. The committee reviews the national security impact of foreign investments in the United States.
The Secretary of the Treasury chairs the committee with members from the Department of Justice, Department of Homeland Security, Department of Commerce, Department of Defense, Department of State, Department of Energy, Office of the U.S. Trade Representative and Office of Science and Technology Policy. The legislation passed in committee and now goes to the full House of Representatives for consideration.
NCBA’s Kent Bacus says the effort “Would provide a critical voice for American farmers and ranchers, and ensure that the federal government does not overlook agriculture's role in national security."