Protect America First Act of 2006

The Protect America First Act of 2006 (H.R. 4917) sought to increase congressional oversight of foreign business deals involving U.S. companies. The bill would have required the President to notify congressional leadership within five days of learning about a proposed merger or acquisition involving a foreign government-controlled entity that could impact national security.

For the average citizen, this legislation aimed to provide greater transparency regarding foreign investment in critical American infrastructure and industries. Additionally, the bill expressed the sense of Congress that the Committee on Foreign Investment in the United States (CFIUS) should be moved from the Department of the Treasury to the Department of Homeland Security to prioritize security concerns in these business transactions.