Comprehensive Outbound Investment National Security Act of 2025
Sponsored By: Senator John Cornyn
Introduced
Summary
This bill would create a statutory framework to constrain outbound U.S. investments in countries of concern. It pairs new sanctions and divestment powers with a mandatory notification regime for sensitive technologies, requires interagency and allied coordination, and builds a public database and reporting streams.
Show full summary
- U.S. investors and companies would face prohibitions on covered national security transactions involving designated "prohibited" technologies and must submit written notifications within 30 days after transaction completion. Enforcement rules include notice-and-cure procedures and place the burden of proof on the Secretary in enforcement actions.
- Federal agencies would administer the regime with Treasury as the lead department, supported by the Department of Commerce. The bill authorizes $150 million for Treasury for each of the first two fiscal years and allows hiring up to 15 staff in Treasury and Commerce to carry out implementation, plus recurring reports and annual testimony to Congress.
- Technology and defense sectors are targeted directly. The act names semiconductors, artificial intelligence, quantum information, high-performance computing, and hypersonics as covered categories and pushes multilateral information sharing, allied capacity building, and a petitionable public database of covered foreign persons.
*Authorizes $150 million per year for Treasury for the first two fiscal years and hiring authority, increasing near-term federal spending.*
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Bill Overview
Analyzed Economic Effects
7 provisions identified: 3 benefits, 1 costs, 3 mixed.
Act would end in seven years
If enacted, the Act and any amendments made by it would stop having effect seven years after the date of enactment. All authorities, duties, programs, and rule changes created by the Act would end on that date. This would remove both new regulatory powers and new compliance duties established by the bill.
Treasury funding for outreach and admin
If enacted, the bill would authorize $150,000,000 to the Department of the Treasury for each of the first two fiscal years after enactment. Those amounts could be transferred to the Department of Commerce. The funds would pay for joint outreach to industry and for administration of the Act and any amendments.
New limits and penalties for foreign investments
If enacted, U.S. persons who complete covered transactions in prohibited or notifiable technologies would need to notify the agency within 30 days. The agency would have to write regulations within 450 days that set how to self‑disclose and what facts to include. Violators could face civil fines tied to IEEPA rules and the Secretary could force divestment. The President could also use emergency powers to bar investments in certain covered foreign persons, and the Justice Department could be directed to seek court-ordered divestment.
Public database and secrecy for filings
If enacted, the Secretary could make a public, non‑exhaustive database listing some foreign persons tied to prohibited or notifiable technologies. Covered foreign persons could petition to be added or removed and the public could submit evidence confidentially. Most Title VIII filings would be exempt from public FOIA disclosure, but limited information could be shared for court or administrative cases, to Congress, allied governments, with party consent, or as anonymized national‑security publications. The Secretary could publish implementing rules before issuing the full database.
More scrutiny on Chinese-linked firms
If enacted, the President would send an initial report within two years and then reports every two years for six years assessing Chinese persons for a Non‑SDN military‑industrial list. The review would use several federal lists and require agencies to share information and listing criteria. Title II would also define who counts as a "covered foreign person," naming the People's Republic of China (including Hong Kong and Macau) and entities under control or majority ownership. The bill would also define "United States person" to include U.S. citizens, green card holders, entities organized under U.S. law, and any person in the United States.
Fast hiring for program staff
If enacted, the President could directly appoint up to 15 people to competitive‑service jobs to run this program. The Treasury and Commerce Secretaries could also make direct competitive‑service appointments to implement the Act. These hiring authorities would start at enactment and last while the Act is in force.
Sanctions exclude imports of goods
If enacted, authorities under this Act could not be used to sanction the importation of goods. The bill defines "goods" to include products, materials, supplies, and manufactured items, but it would not include technical data. This change would reduce the risk that importers and traders face sanctions under the Act.
Sponsors & CoSponsors
Sponsor
John Cornyn
TX • R
Cosponsors
Catherine Cortez Masto
NV • D
Sponsored 12/17/2025
Tim Scott
SC • R
Sponsored 12/17/2025
Elizabeth Warren
MA • D
Sponsored 12/17/2025
Dan Sullivan
AK • R
Sponsored 12/17/2025
Roll Call Votes
No roll call votes available for this bill.
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