Washington, Feb. 11 -- Congressman Nathaniel Moran issued the following press release:
U.S. Rep. Nathaniel Moran (TX-01) today introduced the Deterring Adversarial Access to Americans' Data Act, legislation to disincentivize the use of foreign adversary-controlled technology by denying key tax incentives to companies that use such technology.
The legislation closes a gap in current law by amending the Internal Revenue Code to extend Foreign Entity of Concern (FEOC) restrictions to major business tax incentives. FEOC restrictions currently apply to certain energy incentives but do not extend to major business tax provisions. The bill would require companies to sever ties with foreign adversary-controlled technology in order to remain elig...