H.R.620 - Foreign Adversary Risk Management Act; FARM Act (119th Congress)
Summary
H.R.620, the Foreign Adversary Risk Management Act (FARM Act), aims to amend the Defense Production Act of 1950 to protect the U.S. agriculture industry from foreign influence. The bill seeks to include the Secretary of Agriculture in the Committee on Foreign Investment in the United States (CFIUS) and to broaden CFIUS's review to include agricultural investments by foreign entities. It also includes agricultural supply chains in the definition of critical infrastructure and technologies.
Expected Effects
The FARM Act would likely increase scrutiny of foreign investments in U.S. agriculture. This could lead to greater protection of domestic agricultural resources and supply chains. It also mandates reports on foreign influence in the U.S. agriculture industry, providing Congress with more information for policy decisions.
Potential Benefits
- Enhanced protection of U.S. agricultural assets and supply chains from foreign adversaries.
- Increased oversight of foreign investments in the agriculture sector.
- Improved national security by safeguarding critical infrastructure.
- Greater transparency regarding foreign influence in the U.S. agriculture industry.
- Support for domestic farmers and agricultural businesses.
Potential Disadvantages
- Potential for increased bureaucracy and delays in foreign investment approvals.
- Possible chilling effect on beneficial foreign investment in the U.S. agriculture sector.
- Risk of retaliatory measures from foreign countries.
- Increased compliance costs for businesses involved in agricultural transactions.
- Potential for overreach in defining 'critical technologies' and 'critical infrastructure'.
Constitutional Alignment
The bill aligns with the Constitution's broad goals of providing for the common defense and promoting the general welfare, as stated in the Preamble. Specifically, it relates to Congress's power to regulate commerce with foreign nations (Article I, Section 8, Clause 3). The Act does not appear to infringe on any specific constitutional right or freedom.
Impact Assessment: Things You Care About ⓘ
This action has been evaluated across 19 key areas that matter to you. Scores range from 1 (highly disadvantageous) to 5 (highly beneficial).