Statement from Dee Stewart, President of Americans for a Balanced Budget, on The Treasury Department’s Proposed Regulations Under the Comprehensive Outbound Investment National Security (COINS) Act

Statement from Dee Stewart, President of Americans for a Balanced Budget, on The Treasury Department’s Proposed Regulations Under the Comprehensive Outbound Investment National Security (COINS) Act

“Protecting America's national security must always be a top priority, particularly as China continues to expand its influence in critical industries and emerging technologies. However, protecting our national interests should not mean abandoning the free-market principles that have helped make the United States a global leader in innovation and economic growth. Burdensome government mandates and unnecessary red tape risks undermining the very innovation Americans rely on.

“The Treasury Department's proposed regulations under the COINS Act raise concerns about broad restrictions on outbound investment, cross-border deals, and licensing agreements, particularly in the biopharmaceutical sector. America is a global leader in innovation, and partnering with our international counterparts is a key part of advancing medical research and development for all. Sweeping restrictions could create unnecessary barriers to these partnerships, discourage private investment, and put American businesses at a competitive disadvantage.

“Washington policymakers must recognize that the decisions they make have real consequences for the Americans they serve. In the biopharmaceutical sector, getting these regulations wrong could delay the next generation of lifesaving treatments and limit patients' access to medical breakthroughs. We urge the Trump administration and Treasury Department to carefully consider these consequences and ensure the final regulations address legitimate security threats without sacrificing the health and well-being of American patients.”