RELEASE: REP. HILL’S BILLS TO COUNTER THE CHINESE COMMUNIST PARTY’S STRATEGY PASS OUT OF HOUSE FINANCIAL SERVICES COMMITTEE
WASHINGTON, D.C.,
February 28, 2023
WASHINGTON, D.C. – Rep. French Hill (AR-02), Vice-Chairman of the House Financial Services Committee and Chairman of the Financial Services Subcommittee on Digital Assets, today had two bills marked up by the House Financial Services Committee that counter the strategy of the Communist Party of China.
“I am pleased to see my two bills, the Taiwan Conflict Deterrence Act and SAVE Act, reported out of committee. I recently returned from leading a trilateral discussion among legislators from the United States, Japan and Korea. There, we discussed the crucial need for diverse, resilient supply chains and the importance of our trilateral security cooperation. These bills will help protect our national security and combat the threat of the Chinese Communist Party, and are one step closer to becoming law.” Further Background: H.R. 554 - Taiwan Conflict Deterrence Act: This legislation would require public disclosure of the financial assets of top Chinese leaders in the event that China invades Taiwan. H.R. 555 - SAVE Act: This legislation would amend the Defense Production Act (DPA) to ensure that America diversifies its medical supply chain, with the intent of making the United States less dependent on foreign manufacturers like China. |
