Pressure Regulatory Organizations To End Chinese Threats to Taiwan Act or the PROTECT Taiwan Act
This bill requires certain federal entities to seek to exclude China from six international financial organizations if the President informs Congress that China's actions threaten Taiwan and pose a danger to U.S. interests.
Specifically, the bill establishes that it is U.S. policy to seek to exclude Chinese representatives from participating in the activities of six international organizations if the President informs Congress that China's actions pose any (1) threat to Taiwan's security, economic system, or social system; and (2) danger to U.S. interests.
The six specified organizations are
In the event that the President so informs Congress, the bill requires the Department of the Treasury, the Federal Reserve, and the Securities and Exchange Commission to take all necessary steps to advance the exclusion policy.
The President may waive the application of this policy to an organization if doing so is in the national interest of the United States.
On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 395 - 2 (Roll no. 58). (text: CR H2078-2079)
On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 395 - 2 (Roll no. 58).
(consideration: CR H2082-2083)
Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
(consideration: CR H2078-2079)
Hill (AR) moved to suspend the rules and pass the bill, as amended.
H. Rept. 119-388, Part I.