U.S. Senate Committee on Banking, Housing and Urban Affairs chairman cites FY26 NDAA passage adding CFIUS land purchase review upgrades and FIGHT China outbound investment guardrails

The U.S. Senate Committee on Banking, Housing and Urban Affairs published a statement from Chairman Tim Scott following Senate passage of the Fiscal Year 2026 National Defense Authorization Act by 77-20, highlighting inclusion of Banking Committee-backed national security provisions. The package includes the Protect Our Bases Act, an extension of the Defense Production Act (DPA), and the bipartisan Foreign Investment Guardrails to Help Thwart (FIGHT) China Act. The Protect Our Bases Act strengthens the Committee on Foreign Investment in the United States (CFIUS) review process for foreign land purchases near sensitive military, intelligence, and national laboratory sites by requiring regular updates of sensitive-site records by CFIUS member agencies, improving record usability for national security reviews, and adding annual reporting to Congress. The NDAA’s DPA provisions are framed around reaffirming the statute’s core mission across defense production, emergency preparedness, and critical domestic supply chains, including reducing reliance on adversaries such as China for inputs like rare earth minerals, pharmaceuticals, and essential defense components. Under the FIGHT China Act, the Secretary of the Treasury would be authorized to prohibit or require notification of certain U.S. investments in sensitive technologies in the People’s Republic of China, and U.S. persons would be required to notify the Treasury Department of covered investments in specified high-risk sectors, with targeted exemptions for de minimis, low-risk, and certain portfolio transactions.