This upcoming Sunday, the people of Venezuela will hold an election that, if legitimate, would put an end to years of the oppressive Maduro narco-regime. U.S. Senator Marco Rubio (R-FL) issued a statement in support of the Venezuelan people: “The...
News
Latest News
Rubio: “La Tenacidad y Valentía del Pueblo venezolano Estarán a la Vista”
Este próximo domingo, el pueblo venezolano tendrá una elección que, de ser legítima, pondría fin a años de opresión por parte del narco-régimen de Maduro. El senador estadounidense Marco Rubio (R-FL) grabó un mensaje de video en español y emitió una declaración en...
Rubio, Scott, Colleagues to Biden Admin: No Privileges Should Be Given to 9/11 Terrorist
Twenty-three years ago, the United States was attacked by Islamic terrorists on September 11, 2001. Now, Zacarias Moussaoui, the only person convicted in a U.S. court for his role in the attack, has requested the U.S. Department of Justice to allow a prisoner transfer...
Next Week: Rubio Staff Hosts Mobile Office Hours
U.S. Senator Marco Rubio’s (R-FL) office will host virtual Mobile Office Hours next week to assist constituents with federal casework issues in their respective local communities. These office hours offer constituents who do not live close to one of Senator Rubio’s...
Rubio, Colleagues Introduce Ensuring Continuity in Veterans’ Health Act
As the U.S. Department of Veterans Affairs (VA) opens up new facilities, many veterans are losing access to the VA’s Community Care Program and, consequently, their long-term healthcare providers. Veterans throughout the country have reported a loss of care, including...
Rubio Introduces Bill to Strengthen U.S.-India Security Partnership
The U.S.-India partnership is vital to countering influences from Communist China. In order to strengthen this partnership, it is essential to enhance our strategic diplomatic, economic, and military relationship with New Delhi. U.S. Senator Marco Rubio (R-FL)...
Rubio Applauds Administration’s Forthcoming Action Blocking Federal Retirement Funds From Flowing to Chinese Companies
Miami, FL — U.S. Senator Marco Rubio (R-FL) applauded reports that President Trump has directed his Administration to take swift action to prevent the Federal Retirement Thrift Investment Board (FRTIB) from moving forward with a short-sighted decision to invest billions of dollars from the Thrift Savings Plan (TSP) — the retirement assets of federal government employees, including members of the U.S. Armed Forces — in opaque Chinese firms engaged in human rights abuses and a wide range of military-related activities.
“It’s outrageous that five unelected bureaucrats appointed by the previous Administration have ignored bipartisan calls from Congress to reverse this short-sighted decision, and I applaud President Trump for directing his Administration to take swift action preventing this from going forward,” Rubio said. “America’s investors should never be a source of wealth funding the Chinese Communist Party’s rise at the expense of our nation’s future prosperity, and the TSP Board should not force U.S. service members and federal employees to unwittingly undermine the American national security interests that they work hard every day to protect.”
Last year, Rubio and Senator Jeanne Shaheen (D-NH) led a group of lawmakers in introducing the bipartisan, bicameral Taxpayers and Savers Protection (TSP) Act, which would prevent the FRTIB from steering federal retirement savings to China. Specifically, the FRTIB plans to shift the TSP’s International Fund Index to the MSCI All Country World ex-U.S. Investable Market Index that includes Chinese companies under U.S. sanctions and U.S. export bans.
The FRTIB currently plans to begin investing the retirement assets later this year. The move would also place federal savers and their beneficiaries at risk by directing their savings into Chinese firms that fail to live up to the accounting and financial disclosure levels that are standard in developed markets.
Timeline of Rubio actions related to the Thrift Savings Account:
- November 22, 2019: Rubio, Colleagues Urges President Trump to Appoint New Board Members to Oversee TSP
- November 21, 2019: Rubio, Shaheen Urge Swift Committee Action on Their Bipartisan TSP Act
- November 6, 2019: Rubio, Shaheen Lead Bipartisan, Bicameral Bill Banning TSP Board from Steering Federal Retirement Savings to China
- October 22, 2019: Rubio, Shaheen Lead Bipartisan Group Urging TSP Board to Reverse Decision to Steer Federal Retirement Savings to China
- September 30, 2019: ICYMI: Rubio & Shaheen: Federal Retirement Savings Should Not Fund China’s Communist Party
- September 11, 2019: Sen. Marco Rubio wants to make sure federal worker retirement dollars are not invested in China
- August 26, 2019: Rubio, Shaheen Urge TSP Board to Reverse Decision to Steer Federal Retirement Savings to China