The review comes in response to a Chinese-linked company owning property near a nuclear missile storage facility.
The Treasury Department proposed a new rule that would expand the radius for property purchase reviews around U.S. military bases.
Current policy requires the Treasury Department’s Committee on Foreign Investment in the United States (CFIUS) to review all land purchases made within one mile of domestic military bases to prevent foreign adversaries from directly spying on base operations. But after the CFIUS identified property owned by China-linked companies just outside the one mile radius of a Wyoming nuclear missile arsenal, the department recommended expanding its property review radius to 100 miles away from military bases.
“This latest update vastly expands the reach of CFIUS’ real estate jurisdiction while maintaining its sharp focus on national security,” a Treasury Department official said.
As the Lord Leads, Pray with Us…
- For the Department of the Treasury as it uses its unique powers to preserve national security.
- That department officials carefully review the potential efficacy of this proposed ruling.
- For federal officials as they work together to address issues of national security.
Sources: Reuters
