This year alone, U.S. Customs and Border Protection (CBP) has encountered an estimated 40,000 Chinese nationals along the U.S. northern and southern border. The Biden Administration has left the border wide open, allowing potential spies from the Chinese Communist...
Gotion, Inc., a Chinese company and U.S. subsidiary of Guoxuan High-Tech, announced a lithium battery plant in Illinois that is expected to open next year. This CCP-tied battery company is expected to benefit from green-energy tax breaks under the Democrats’ Inflation...
U.S. Senator Marco Rubio (R-FL) joined National Public Radio’s All Things Considered to discuss his plan to expand the child tax credit for working families. See below for the full transcript and listen to the edited interview here. On the connection between the child...
U.S. Senator Marco Rubio (R-FL) joined Wake Up America to discuss the U.S. House of Representatives’ impeachment inquiry and the hypocritical reaction by Democrats. See below for highlights and watch the full interview on YouTube and Rumble. On the U.S. House of...
Russia must face severe consequences for its unjustified and unprovoked invasion of Ukraine. Moscow continues to have open access to critical U.S. capital, which fuels Putin and his criminal war machine, through state-controlled and state-owned companies such as...
U.S. Senators Marco Rubio (R-FL) and Alex Padilla (D-CA) issued a joint statement condemning Azerbaijan’s unprovoked and unjustified military incursion in the South Caucasus against Armenians under the false pretext of leading an 'anti-terrorist operation' and in...
Washington, D.C. — U.S. Senator Marco Rubio (R-FL) released a statement after Chinese ride-hail company Didi filed for an initial public offering. Last year, Rubio and Senator John Kennedy (R-LA) worked to pass the Holding Foreign Companies Accountable Act into law. The HFCAA subjects Chinese and other foreign companies listed on American exchanges, like Didi, to the same audit oversight standards as all other U.S. listed firms. The law requires that the Securities and Exchange Commission (SEC) delist and ban over-the-counter trading for firms that are out of compliance with U.S. regulators for a period of three years. In other words, because the Chinese Communist Party prevents the Public Company Accounting Oversight Board (PCAOB) from conducting an audit, Didi would be delisted from American exchanges in three years.
“America cannot continue to allow unaccountable companies based in China to ignore our nation’s laws,” Rubio said. “Every time the SEC allows companies like Didi to list on American exchanges, it funnels desperately needed U.S. dollars into Beijing and puts the investments of American retirees at risk. The Biden Administration should take action to block Didi’s IPO and work with us on a legislative solution to prohibit all IPOs from unaccountable actors.”
In May, Rubio and Senator Bob Casey (D-PA) introduced the No IPOs for Unaccountable Actors Act to prohibit initial public offerings (IPOs) on U.S. exchanges for Chinese companies that are out of compliance with U.S. regulators. This legislation would direct the SEC to prohibit any company headquartered in a jurisdiction in which the PCAOB lacks standard auditing authority, or that retains an auditor PCAOB cannot inspect, from registering a security and making an IPO on a U.S. stock exchange. This would prevent Chinese companies from issuing IPOs or listing on American exchanges through SPACs.