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Rubio Releases Agenda to Confront China’s Economic Aggression
U.S. Senator Marco Rubio (R-FL) reintroduced eight bills to protect American consumers, workers, and investors from exploitation by the Chinese Communist Party.
- “Our nation needs a strong response to Communist China’s disruptive and exploitative tactics. Too many American families, communities, and critical industries are suffering due to Beijing’s unfair and predatory policies. Congress needs to reverse course and guard the American people from this genocidal regime, not assist in its rise.” — Senator Rubio
Rubio detailed his vision for holding the Chinese government accountable and protecting Americans in a Medium post.
Below is the list of bills Rubio reintroduced:
- Accountability in Federal Acquisitions and Contracting (AFAC) Act. First introduced as the FACT Act in March 2021, the legislation would require federal contractors like McKinsey & Company to disclose any existing contracts with the Chinese Government and Communist Party, military, or Chinese state-controlled or directed entity. Contractors would also be required to disclose any new contracts with entities of concern throughout the duration of their contract with the federal government.
- China Oil Export Prohibition Act. First introduced in June 2022, the legislation would prohibit the exportation of oil and petroleum products from the United States to the Peoples’ Republic of China.
- Countering Corporate Corruption in China Act of 2022. First introduced in February 2022, the legislation seeks to modernize the Foreign Corrupt Practices Act (FCPA) by clarifying that the definition of “corrupt intent” includes actions that excuse the genocide in Xinjiang, advance the Chinese Communist Party’s (CCP) propaganda efforts, or “invest” in core CCP activities, among other actions.
- No Chinese Communist SURPRISE Parties Act. First introduced in February 2022, the legislation would direct the U.S. Securities and Exchange Commission (SEC) to require companies listed on U.S. exchanges to identify whether a Chinese Communist Party (CCP) organization is present in the firm’s operations. Senator Marsha Blackburn (R-TN) is a cosponsor.
- American Financial Markets Integrity and Security Act. First introduced in March 2021, the legislation would prohibit malign Chinese companies — including the parent, subsidiary, affiliate, or a controlling entity — that are listed on the U.S. Department of Commerce Entity List or the U.S. Department of Defense list of Communist Chinese military companies from accessing U.S. capital markets. Senators Todd Young (R-IN) and Mike Braun are cosponsors, and Rep. Gallagher (R-WI) plans to introduce companion legislation in the House.
- Fair Trade with China Enforcement Act. First introduced in May 2018 and reintroduced in March 2021, the legislation would safeguard American assets from Chinese influence and possession to blunt China’s tools of economic aggression.
- TSP Fiduciary Security Act. First introduced in June 2021, the legislation would update the fiduciary duty of the Federal Retirement Thrift Investment Board (FRTIB), which is tasked with managing the retirement savings of federal civil servants through the nearly $800 billion Thrift Savings Plan (TSP), to include national security considerations.
- Turn OFF THE TAP Act. First introduced in July 2022, the legislation would address the national security vulnerability of there being no central ban on federal funds going to foreign firms explicitly identified through U.S. government blacklists, including dangerous Chinese companies. Senator Marsha Blackburn (R-TN) is a cosponsor.
Want more information? Rubio outlined his plans for the third term in an op-ed for The American Conservative.