As mergers and acquisitions in the United States continue at a quickening pace, legislation is urgently needed to make regulators aware of any Chinese Communist Party (CCP) influence or control over foreign firms merging with U.S. companies, said Reps Scott Fitzgerald (R.-Wis.) and Greg Stanton (D.-Ariz.) on Feb. 11. The two congressmen are advancing the Foreign Merger Subsidy Disclosure Act of 2021, which Fitzgerald officially introduced in October and has been referred to the House Judiciary Committee. The bill would require companies seeking to merge with American firms to disclose to U.S. antitrust regulators whether it has received financial support or subsidies from a foreign government. Fitzgerald, during a virtual event hosted by the Hudson Institute on Friday, said he got the idea for the proposed legislation in the course of discussions with congressional staff. He said he was surprised that the loophole by which Chinese or other foreign actors …