DeLauro Cosponsors Legislation to Halt Dubai Port Deal
DeLauro Cosponsors Legislation to Halt Dubai Port Deal
WASHINGTON, D.C. - With operations at six ports on the East Coast set to go under the control of a foreign entity in two weeks, Congresswoman Rosa L. DeLauro (Conn.-3) today cosponsored legislation to halt the deal until Congress can further evaluate it. Last week, Dubai announced that the Administration's Committee on Foreign Investment gave approval for the sale of Peninsular and Oriental Steam Navigation Company (P & O) to DP World. This $6.8 billion deal is scheduled to be closed on March 2, 2006. The approval allows the company, which is owned and operated by the United Arab Emirates (UAE), to take control of significant operations at six ports on the East Coast, including: New York, New Jersey, Baltimore, New Orleans, Miami, and Philadelphia.
"President Bush's refusal to conduct a rigorous investigation into this matter or sanction one by Congress despite mounting criticism reveals just how out of touch his Administration is with our nation's homeland security needs. With the president showing a tin ear to legitimate homeland security concerns, Congress must take matters into its own hands."
DeLauro cosponsored legislation offered by Homeland Security Committee Chairman Peter T. King (R-NY) and Senator Chuck Schumer (D-NY). The lawmakers will introduce and push emergency legislation in both the House and Senate when the chambers reconvene next week.
The bipartisan legislation will:
* Require the President to place a stay on DP World's takeover of P&O ports
* . Require the Committee on Foreign Investment in the United States commence an immediate 45-day investigation on the takeover's effects on national security. The bill also requires CFIUS to coordinate with other agencies, such as the Coast Guard, and to take in to consideration past security assessments of ports operated by DP World.
* Require the Secretaries of Homeland Security and the Treasury to prepare a full report and brief members of Congress on their findings.
* Upon receiving the report, Congress would have the authority to disapprove the sale within thirty days.
http://www.house.gov/delauro/press/2006/February/dubai_legislation_2_22_06.html