Washington D.C. U.S. Senator Katie Britt (R-Ala.) today applauded a new rule issued by the U.S. Department of Treasury aimed at enhancing oversight of foreign real estate transactions near sensitive American military, intelligence, and laboratory sites. She also renewed her call for the Senate to pass the Protect Our Bases Act, a bipartisan bill she introduced with Senator Tim Scott (R-S.C.), to further strengthen protections for these strategic locations.
The Treasury’s finalized rule mandates that the Committee on Foreign Investment in the United States (CFIUS), which reviews foreign investments for potential national security risks, examine transactions within a 1-mile radius of 40 military sites and a 100-mile radius of 27 additional sites. The updated review process includes military installations in Alabama, such as Anniston Army Depot, Fort Novosel, Maxwell Air Force Base, and Redstone Arsenal. Developed in coordination with the Department of Defense, the rule incorporates elements from the proposed Protect Our Bases Act.