SENATE BILL: Promoting Responsible Foreign Investment Act of 2014 (Failed)

[Southern Senator North Carolina Yankee]

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Sponsor: TNF

[Southern Senator North Carolina Yankee]

You have 24 hours to begin advoacy, Senator.


Section 2 is a counter-productive protectionist measure that arbitrarily selects 50% and prefers to opt for 0% over 25% or 30%.

Section 3 could jeopardize our ability to recycle our debts when necessary and cause a spike in interest rates if not worse.

[Southern Senator North Carolina Yankee]

I am not really concerned about section one. Though I think a better approach would be to require that all foreign companies comply with all federal labor laws, which would include the "Employer Non-Interference Act".

Rebuilding a country in a world destroyed by War where there is only one economy left undamanged is one thing. Competing in a world where there is a global competition and millions of new customers coming online all the time in the Emerging Markets is another.

I am concerned as well, but a large part of the reason we depend on them for that is because of our deficits and these bonds are traded on a market. If we restrict the pool of buyers, then the prices of the bonds would drop, and the interest rates rise unavoidably and considering our present economic situation, that is not desirable.

[Southern Senator North Carolina Yankee]

This can be put to a vote in about five hours.

[Southern Senator North Carolina Yankee]

Senators, this is now at final vote, please vote Aye, Nay or Abstain.

[Southern Senator North Carolina Yankee]

This is one vote away from failing.

[Southern Senator North Carolina Yankee]

And apparently, I haven't voted yet so problem solved.

NAY

This has enough votes to fail, Senators have 24 hours to change their votes.

[Southern Senator North Carolina Yankee]

This can be ended as well.

[Southern Senator North Carolina Yankee]

Yea, bore is fine.