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House Co-Sponsorship Memoranda
House of Representatives
Session of 2023 - 2024
Regular Session
MEMORANDUM
| Posted: | December 20, 2023 12:15 PM |
|---|---|
| From: | Representative Frank Burns |
| To: | All House members |
| Subject: | Resolution – Urging Congress to oppose the sale of U.S. Steel |
| Steel is one of America’s iconic industries. From good-paying jobs to national security, steel production is part of the backbone of our economy and part of the fabric of American life. The news that Japanese company Nippon Steel plans to buy U.S. Steel – once American’s most profitable company – is distressing. We cannot allow it to proceed. Domestic steel production is as vital to U.S. national security as it is to the thousands of union workers who staff our steel plants every day and who strongly oppose this takeover. The sale of U.S. Steel still must undergo regulatory review by the Committee on Foreign Investment in the United States, an interagency committee authorized to review transactions involving foreign investment in the United States. We as state lawmakers must stand united with our federal counterparts in opposition to this sale. That’s why I plan to introduce a resolution urging Congress to oppose the takeover of U.S. Steel to Nippon Steel and to fight to ensure this sale never comes to fruition. Nippon’s economic interests are tied to Japan’s interests; not ours. At a time when domestic manufacturing – including in the American steel market – is facing increased competition from unfair trade, we must do everything we can to prevent further deterioration of American ownership. This sale would deliver a major blow to the American steel industry, which has been instrumental in building the United States into the superpower it is today. Please join me in sponsoring this resolution urging Congress to use its political might to oppose the sale of U.S. Steel to Japanese company Nippon Steel. |
Introduced as HR290