The House Financial Services Committee approved three bills this week, including one that seeks to modernize the Committee on Foreign Investment in the United States (CFIUS).
The committee advanced the Foreign Investment Risk Review Modernization Act of 2018 (H.R. 5841), which is designed to more effectively guard against the risk to the national security posed by certain types of foreign investment. The bill, introduced by Rep. Robert Pittenger (R-NC), passed 53-0.
The committee also advanced the Transitional Housing for Recovery in Viable Environments Demonstration Program Act (H.R. 5735), sponsored by Rep. Andy Barr (R-KY). This legislation would amend the United States Housing Act of 1937 to establish a program to set aside section 8 housing vouchers for transitional housing for individuals recovering from opioid and substance abuse disorders. The bill passed 39-19.
Finally, the committee approved the Housing Choice Voucher Mobility Demonstration Act of 2018 (H.R. 5793) by a vote of 54-0. The bill, introduced by Rep. Sean Duffy (R-WI), would establish a housing choice voucher to encourage families receiving such voucher assistance to move to lower-poverty areas.
“These three important measures support the Committee’s continued efforts to increase housing mobility for low-income families, create opportunity for individuals recovering from opioid addiction, and improve our security review process to support U.S. foreign investment,” Financial Services Committee Chairman Rep. Jeb Hensarling (R-TX) said. “I want to thank all of our members for their hard work and leadership on these important bills.”
All three bills now move to the full House for consideration.