U.S. Cracks Down on Foreign Land Grabs Near Military Bases

(RepublicanNews.org) – The U.S. Department of Treasury said it wants to expand the jurisdiction of the Treasury committee to review land purchases by foreign nationals when the land is near U.S. military bases.

On Monday, July 8th, The Treasury announced that the Committee on Foreign Investment in the United States (CFIUS) will have extended jurisdiction over 56 new military locations, meaning the committee now oversees a total of 227 military sites. The committee is responsible for potential national security risks from international corporate transactions.

In 2018, the CFIUS was given the power to oversee and evaluate the buying and selling of property within close proximity to military sites and other sensitive locations across the county. Members of the committee are representatives from multiple government departments including the State, Energy, Justice, and Commerce departments.

The new expansion of jurisdiction must first go through a public comment period lasting 30 days during which stakeholders can weigh in on the CFIUS’s expanded authority. The move represents the latest in a broader strategy to curb foreign influence on the U.S. and protect its critical infrastructure.

The federal government has also been looking at the cryptocurrency market. President Joe Biden issued a divestment order in May that blocked a Chinese-backed crypto mining firm from purchasing land near a nuclear missile base in Wyoming due to “national security risk.” Secretary of Treasury Janey Yellen said the Biden administration is “committed” to using its “strong investment screen tool” to protect national security.

Concerns over foreign land deals have grown over recent years, and some states have started to push back on their own without the federal government’s help. Florida Gov. Ron DeSantis, for example, has passed legislation in the Sunshine State to prevent foreign nations from China as well as six other nations from buying land in areas of the state deemed sensitive, such as outside U.S. military bases.

DeSantis boasted about curbing Chinese influence in Florida while on the campaign trail before dropping out of the 2024 presidential race, and said his administration “recognized the threat” and “acted swiftly and decisively.”