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EconomyH.R. 1716Comments

Taiwan Conflict Deterrence Act of 2025

Official title: To deter Chinese aggression towards Taiwan by requiring the Secretary of the Treasury to publish a report on financial institutions and accounts connected to senior officials of the People's Republic of China, to restrict financial services for certain immediate family of such officials, and for other purposes.

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Where the Bill Stands

  1. Introduced, done
  2. Committee, done
  3. Floor Vote, done
  4. Outcome, current stage

What This Bill Does

This bill, in the event of a threat to U.S. interests by China, (1) requires additional reporting on the domestic and foreign financial activity of specified Chinese officials, and (2) prohibits certain financial transactions with specified Chinese officials.

Upon a determination by the President that such a threat exists, the bill requires the Department of the Treasury to (1) report to Congress on funds held by certain members of the Chinese Communist Party, including the total amount of funds, a description of the funds, and a list of related financial institutions; and (2) brief Congress on how these funds were acquired and any illicit or corrupt means employed to acquire or use the funds. These requirements are subject to specified exemptions and waivers.

After such a report is made, Treasury must prohibit significant transactions between U.S. financial institutions and these individuals (and their immediate family, if appropriate). The bill provides exceptions for intelligence, law enforcement, and national security activities. The President may waive the prohibition under certain circumstances.

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Related Documents

Bill on Congress.govWeb Page ↗ (opens in a new tab)

Timeline

  1. SenateReceived in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  2. House floor actionsMr. Hill (AR) moved to suspend the rules and pass the bill, as amended.
  3. Passed the House
  4. House floor actionsReported (Amended) by the Committee on Financial Services. H. Rept. 119-48, Part I.
  5. House committee actionsCommittee Consideration and Mark-up Session Held
  6. Library of CongressIntroduced in House
  7. House floor actionsReferred to the Committee on Financial Services, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
  8. Introduced
  9. Committee

Comments

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