House Passes Budd-Sponsored Foreign Merger Subsidy Disclosure Act
Washington, D.C. – The House of Representatives has passed H.R. 5639, the Foreign Merger Subsidy Disclosure Act. Rep. Ted Budd (R-NC) is a co-sponsor of the bill.
The bill requires American companies to disclose any economic support they have received from a foreign nation.
Rep. Budd said in a statement:
“The American people have a right to know if U.S. companies have any conflicts of interest with foreign nations and this bill ensures that this disclosure happens.”