id	author	title	date	pages	extension	mime	words	sentence	flesch	summary	cache	txt
cjrl-4841	Reville, Tricia	RICE PADDIES ON THE WHITE HOUSE LAWN: CFIUS & THE FOREIGN CONTROL REQUIREMENT	2020	55	.pdf	application/pdf	17279	760	50	As a result of growing concern over foreign investment, Congress passed the Omnibus Trade and Competitiveness Act of 1988.61 The bill included the Exon-Florio Amendment, which gave “the President or the President’s designee” the power to “investigate” foreign investment activity like the proposed Fujitsu Ltd. acquisition.62 The bill effectively codified President Ford’s executive order establishing the CFIUS review process.63 When President Reagan issued an executive order making CFIUS his delegate for over- seeing the Exon-Florio provisions,64 CFIUS transformed from an “obscure” administrative committee with “limited authority” to an “important component of U.S. foreign investment policy with a broad mandate. FOREIGN DIRECT INVESTMENT IN THE UNITED STATES AND THE CREATION OF CFIUS CFIUS’ role in reviewing foreign investments is critical because the U.S. is the largest recipient in the world of FDI.16 Americans benefit from the presence of foreign investment in the U.S. Over 7 million Americans work for “foreign-owned firms” in the U.S.17 and, in 2013, “foreign-owned companies” paid over 16% of the total revenue from U.S. federal corporate income tax.18 Additionally, “foreign sources” filed for over 50% of recent utility 16 FDI In The USA, U.S. DEP’T OF COMMERCE, https://www. selectusa.gov/why-fdi.	cache/cjrl-4841.pdf	txt/cjrl-4841.txt