Taiwan Conflict Deterrence Act of 2023
Latest action · Sep 10, 2024 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedJan 26, 2023
- Passed HouseSep 9, 2024
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Taiwan Conflict Deterrence Act of 2023
This bill, in the event of a threat to U.S. interests by China, (1) requires additional reporting on the domestic and foreign financial activity of specified Chinese officials, and (2) prohibits certain financial transactions with specified Chinese officials.
Upon a determination by the President that such a threat exists, the bill requires the Department of the Treasury to (1) report to Congress on funds held by certain members of the Chinese Communist Party, including the total amount of funds, a description of the funds, and a list of related financial institutions; and (2) brief Congress on how these funds were acquired and any illicit or corrupt means employed to acquire or use the funds.
After such a report is made, Treasury must prohibit significant transactions between U.S. financial institutions and these individuals (and their immediate family, if appropriate). The bill provides exceptions for intelligence, law enforcement, and national security activities. The President may waive the prohibition under certain circumstances.
Cosponsors 8
Members who signed on, in the order they did. Signatures ran from Jan 26, 2023 to Jul 11, 2023, with 1 there on the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-CA | Brad Sherman | Original | Jan 26, 2023 |
| R-NY | Michael Lawler | Feb 27, 2023 | |
| D-NV | Susie Lee | Mar 9, 2023 | |
| D-NY | Patrick Ryan | Mar 10, 2023 | |
| D-NH | Chris Pappas | May 25, 2023 | |
| R-CA | Young Kim | Jun 20, 2023 | |
| R-TX | Monica De La Cruz | Jul 3, 2023 | |
| R-MO | Ann Wagner | Jul 11, 2023 |
Actions 13
Everything that happened, newest first.
- Sep 10, 2024Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Sep 9, 2024Considered under suspension of the rules. (consideration: CR H5042-5046)
- Sep 9, 2024DEBATE - The House proceeded with forty minutes of debate on H.R. 554.
- Sep 9, 2024Motion to reconsider laid on the table Agreed to without objection.
- Sep 9, 2024Mrs. Kim (CA) moved to suspend the rules and pass the bill, as amended.
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
Text 4
Each version as it was printed, newest first.
- Sep 10, 2024Referred in Senate
- Sep 9, 2024Engrossed in House
- Dec 1, 2023Reported in House
- Jan 26, 2023Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.