US Senators Tom Natural cotton and Tommy Tuberville stated on Tuesday that they have introduced legislation to ban people of the Chinese Communist Party (CCP) from purchasing property in the United States.
“ Chinese investments in American farmland put the food security at risk and offer opportunities for Chinese espionage against our military facets and critical infrastructure. Instead of allowing these purchases, the government must bar the Communist Party from purchasing the land, ” Cotton mentioned.
Chinese opportunities in US agriculture might provide the CCP with influence over the United States’ provide chains, as well as access to delicate information critical to nationwide security, the statement mentioned.
Chinese investors’ holding of US agricultural property increased from 13, 720 acres in 2010 to 352, 140 acres in 2020 – slightly less than 1% of all foreign-held acres in the land, the statement said.
Foreign investors hold interest in nearly 37. 6 million acres of agricultural land in the US as of December 2020, the statement also said. That area is certainly larger than the entire state of Iowa, the statement furthermore said.
An overall total of 14 states actually have some form of foreign ownership limitations, but no federal limitations exist, the statement added. The legislation is known as the particular Securing America’s Land through Foreign Interference Act, based on a copy of the bill text.
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