Time Is Up Act of 2023
HR 2895, the Time Is Up Act of 2023, sets strict deadlines for the President to act on foreign investment reviews under the Committee on Foreign Investment in the United States (CFIUS). It requires the President to announce any suspension or prohibition of a covered foreign investment deal within 15 days of the bill's enactment if more than 105 days (or 60 days for certain investigations) have passed since review began without a decision. For any announcement made before or after the bill's enactment, the President must complete the suspension or prohibition within 30 days of the announcement. This bill directly affects foreign entities seeking to invest in U.S. businesses and the federal process reviewing those deals for national security risks.
Bill status
in committee
1 of 4 stages cleared
Introduction
Apr 2023
Committee Review
Floor Vote
President
Introduced Apr 26, 2023
Last action Apr 28, 2023
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
3
Key actions
0
Committee
2
Apr 28, 2023
Committee
Referred to the Subcommittee on Innovation, Data, and Commerce.
lower
Apr 26, 2023
Committee
Referred to the Committee on Financial Services, and in addition to the Committees on Foreign Affairs, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
lower
Apr 26, 2023
Introduced
Introduced in House
lower
1 primary · 8 co-sponsors
Sponsors
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