FIRST ON THE DAILY SIGNAL—Rep. Burgess Owens introduced a bill on Wednesday to hold private universities accountable for investments they make in entities located in hostile foreign countries.
“It is unacceptable for American universities to funnel millions to foreign adversaries without transparency or accountability,” the Republican congressman from Utah told The Daily Signal.
The Reporting on Investments in Foreign Adversaries Act requires that private universities with endowments above $6 billion or with more than $250 million in investments disclose their financial relationships with foreign adversaries of the United States.
Universities that fail to comply would be fined an amount corresponding to the value of investments held or sold by the institution.
“The Reporting on Investments in Foreign Adversaries (RIFA) Act requires private institutions to…
