It’s budget season, and review of Departmental requests can offer a unique view of the year to come. For example, the Treasury Department has requested funding to hire 15 full-time employees to work on the outbound foreign investment review regime, which should begin “in earnest in FY 2025.”
CFIUS and its member agencies are requesting a substantial increase in headcount and resources to conduct foreign investment reviews. This week, we break down the CFIUS-related budget requests from Treasury, Justice, Commerce, Homeland Security, and other agencies, and explain what it means.
The Department of Justice’s fiscal year 2024 budget request seeks $32.7 million in total program increases. About 10 percent of that is requested for the National Security Division “for reviewing foreign investments in U.S. industries that may impact national security.” Details, budget inside.