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Rubio Introduces Bill To Turn Off The Tap On Federal Investment In Blacklisted Chinese Firms

Jul 20, 2022 | Press Releases

There is no central ban on federal funds going to foreign firms explicitly identified through U.S. government blacklists, including dangerous Chinese companies. U.S. Senators Marco Rubio (R-FL), Marsha Blackburn (R-TN), and Rick Scott (R-FL) introduced the Turn off the Tap Act to address this national security vulnerability by prohibiting federal funds from going to firms listed on several federal blacklists, including the Department of Commerce’s Entity List and the Non-SDN Chinese Military-Industrial Complex Companies List.
 

  • “It’s not only dangerous to fund Chinese businesses with American taxpayer dollars, but it’s also dumb. This bill would prohibit federal funds from bankrolling Chinese and other firms we know are not acting in our best interest.” – Senator Rubio
  • “It is unconscionable that the Biden administration has enabled the Chinese Communist Party to rake in cash from American taxpayers. Rather than letting Joe Biden award grants or sign federal contracts that undermine the United States, I am cosponsoring legislation to cut our adversaries off. The White House needs to stop emboldening the New Axis of Evil and start putting America first.” – Senator Blackburn
  • “We know Communist China will stop at nothing to try and exploit American markets and take advantage of American businesses operating within the genocidal regime’s borders. The Turn OFF THE TAP Act will stop the flow of hardworking Americans’ dollars to countries like Communist China who want to hurt our economy. This legislation is a no-brainer, and I urge the support of my colleagues for its quick passage.” – Senator Scott 

 
U.S. Representative Claudia Tenney (R-NY) introduced companion legislation. 
 

  • “The American people’s tax dollars should not be invested in blacklisted Chinese companies. Yet today, because of weak policies in Washington, they continue to be. It’s time we cut off the tap. The Chinese Communist Party’s predatory trade policies, significant human rights abuses, and threats to American security are absolutely unacceptable. In upstate New York, we have seen their disastrous effects firsthand. Enough is enough. It is time to step up and make commonsense reforms to ensure Americans are not funding these entities.” – Representative Tenney

 
Related… Rubio recently released a video detailing the threat of investing in China. Watch it here and read more here. 
 
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