Ro Khanna (D-CA)
Critical Defense Ownership Review Act
A Democratic bill with no cosponsors
Last activity — Referred to the House Committee on Armed Services.
In committee
Introduced and handed to a committee in the chamber it started in.
The committee holds it, and most bills are never heard from again. A hearing or a committee vote would be news; silence is the usual outcome, and it kills the bill without anyone voting against it.
Its path through Congress
- Introduced
- In Committee
What this bill would do
The Critical Defense Ownership Review Act requires investment companies to get a review from the Department of Defense before acquiring a controlling interest in major defense suppliers. A controlling interest is defined as a direct or indirect equity interest of at least 25 percent or direct or indirect control. The Department of Defense must assess how these transactions affect national security, competition, and the financial stability of the supplier. Findings from these reviews are reported to antitrust authorities. Additionally, the Assistant Secretary of Defense for Industrial Base Policy must conduct and report on merger and acquisition activity every three years.
Yes
- Scored +5
Does this give the federal government more power?
Increases the Department of Defense's authority to review and potentially block private sector acquisitions.
The opposite
- Scored -3
Would business owners be better off under this?
Imposes additional regulatory hurdles and DoD review requirements for investment companies acquiring defense suppliers.
Who it would affect, and how
Potential Positive Impacts for People
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National Security and Public Interest: The Department of Defense will review if transactions are within the public interest and how they impact national security and the technological base (Section 2(c)(1)).
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Maintaining Competition: The bill requires an assessment of the potential effect on competition for Department of Defense contracts and subcontracts (Section 2(c)(2)).
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Ensuring Availability of Critical Goods: The review process looks for potential restrictions of goods or services critical to national security or the defense industrial base (Section 2(c)(3)).
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Financial Oversight of Suppliers: The bill requires an analysis of whether a financial plan impairs a major defense supplier's ability to maintain services and checks for risks to financial stability (Section 2(c)(4) and 2(c)(6)).
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Ongoing Monitoring: The requirement for a triennial review allows for the assessment of the financial health of firms and the supply of essential goods needed for national defense (Section 3(a)).
Potential Negative Impacts for People
- Increased Costs: The Department of Defense review includes an assessment of any anticipated increased costs to the Department of Defense resulting from a transaction (Section 2(c)(4)).
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Tap or hover a score for the reason it gave.
- Governance And Ideology
- Does this give the federal government more power? — Increases the Department of Defense's authority to review and potentially block private sector acquisitions.
- Demographic And Interest Groups
- Would business owners be better off under this? — Imposes additional regulatory hurdles and DoD review requirements for investment companies acquiring defense suppliers.
- 6/11/2026
- Referred to the House Committee on Armed Services.
- Introduced in House
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.