Washington, D.C. — U.S. Senator Marco Rubio (R-FL) released a video titled, “Are You Retiring in China?” detailing the threat to American economic and national security posed by investing in Chinese companies.
“We know these Chinese companies do not play by the rules,” Rubio said. “There is absolutely no reason the retirement savings of service-members and federal employees should be funding companies working with the Chinese government and military.”
Rubio’s efforts date back to 2019, when he and Senator Jeanne Shaheen (D-NH) successfully pushed the the Federal Retirement Thrift Investment Board (FRTIB) to reverse a short sighted-decision that would have exposed nearly $50 billion in retirement assets of federal government employees, including members of the U.S. Armed Forces, to be used to fund Chinese companies and the Chinese Communist Party’s efforts to undermine U.S. economic and national security.
Just last week, Rubio secured another victory when four nominees to serve on the FRTIB confirmed in writing that “it is unfitting for Americans to invest in companies from China or elsewhere that undermine U.S. national security.” That pledge marks a turning point in how the U.S. Government views investments in Chinese companies, especially those with ties to the Chinese Communist Party and its armed wing, the People’s Liberation Army.
Rubio continues to push the FRTIB to more carefully scrutinize new mutual funds made available to federal employees. He also continues pushing the Securities and Exchange Commission (SEC) to implement his Holding Foreign Companies Accountable Act, which became law on December 18, 2020. The law protects the interests of hardworking American investors by ensuring that foreign companies traded in America are subject to the same independent audit requirements that apply to American companies.
- June 2022: Rubio Releases Hold on Federal Retirement Thrift Investment Board Nominees
- May 2022: Rubio, Colleagues Urge Biden Administration to Protect Federal Retirement Dollars From Dangerous Chinese Companies
- April 2022: Rubio, Tuberville, Cotton Ask Biden Nominees to Protect Federal Employees’ Retirement Funds From Chinese Firms
- July 2021: Rubio Calls SEC Guidance on China “Long Overdue” but Says More Action Needed
- June 2021: Rubio Introduces Legislation to Ensure Investment of Federal Retirement Savings Does Not Harm U.S. National Security
- June 2021: Rubio, Colleagues Question SEC on Unprecedented Replacement of PCAOB Members & Urge the Swift Implementation of Holding Foreign Companies Accountable Act
- May 2021: Rubio, Casey Introduce Bill to Ban Chinese Firms That Ignore U.S. Laws From Listing on U.S. Exchanges
- May 2021: Rubio Leads Bipartisan, Bicameral Bill Banning TSP Board From Steering Federal Retirement Savings to China
- March 2021: Rubio, Colleagues Introduce Legislation Banning Harmful Chinese Companies From Exploiting U.S. Capital Markets
- December 2020: Rubio Statement on MSCI Removing Chinese Military Companies From Its Indexes
- November 2020: Rubio Statement on SEC Proposed Plan to Ban Chinese Firms That Flout U.S. Laws From U.S. Exchanges
- November 2020: Rubio Applauds Executive Order Barring U.S. Investment in Chinese Military Firms
- July 2020: Rubio Urges President’s Working Group on Financial Markets to Address China’s Exploitation of U.S. Financial System
- May 2020: Rubio Applauds Senate Passage of Legislation to Ban Chinese & Foreign Firms That Flout U.S. Laws From U.S. Exchanges
- May 2020: Rubio, Cotton, Scott Urge Banking Committee to Take Up Equitable Act
- May 2020: Rubio, Shaheen Welcome Decision by TSP Board to Halt Transfer of Federal Retirement Savings to China
- May 2020: Rubio Applauds POTUS Push to Ensure Chinese Companies Follow U.S. Securities Laws & Regulations
- April 2020: Rubio Applauds Administration’s Forthcoming Action Blocking Federal Retirement Funds From Flowing to Chinese Companies
- November 2019: Rubio, Scott to President Trump: Protect American Taxpayers' Retirement Funds from Communist China
- November 2019: Rubio, Shaheen Urge Swift Committee Action on Their Bipartisan TSP Act
- November 2019: Rubio, Shaheen Lead Bipartisan, Bicameral Bill Banning TSP Board from Steering Federal Retirement Savings to China
- October 2019: Rubio, Shaheen Lead Bipartisan Group Urging TSP Board to Reverse Decision to Steer Federal Retirement Savings to China
- September 2019: ICYMI: Rubio & Shaheen: Federal Retirement Savings Should Not Fund China's Communist Party
- August 2019: Rubio, Shaheen Urge TSP Board to Reverse Decision to Steer Federal Retirement Savings to China
- June 2019: Rubio Requests Information from MSCI Over Controversial Decision to add Chinese Companies in its Equity Indexes
- June 2019: Rubio, Colleagues Introduce Bipartisan, Bicameral Bill to Ban Chinese & Foreign Firms that Flout U.S. Laws from U.S. Exchanges