Romney said the Senators filed the bill because the Chinese Communist Party is no friend to the United States.
President Joe Biden signed an executive order Wednesday to ban certain kinds of tech investment.
Top prosecutors filed charges Friday against several Chinese companies and their executives.
Several states have already banned or are considering banning foreign ownership of farmland from U.S. adversaries.
China's billions of dollars in global investments and infrastructure projects seem to be paying off politically and economically.
Nebraska Governor Jim Pillen is taking action against certain tech companies controlled by the Chinese Communist Party.
Legislation in Congress would block China and foreign adversaries from buying land around U.S. military installations, including six major bases in North Carolina.
The U.S. trade deficit, the gap between what the nation imports and exports in goods and services, increased to $67.4 billion in December, an increase of $6.4 billion from $61.0 billion in November.
The balloon incident is an example of mounting tensions and espionage between China and the U.S. - but it is different largely because it took place in public, occurred over U.S. territory and the subsequent diplomatic tiff received a lot of media coverage.