According to a report from Reuters, Republican elected officials are rolling out legislation this week to prevent Americans from investing in foreign defense companies that have connections to China’s military.
This is the latest proposal that lawmakers have introduced to keep Chinese firms from receiving American funding.
Congressmen Mike Gallagher, Jim Banks and Doug LaMalfa are introducing this bill, which would have Treasury Secretary Steve Mnuchin submit a report to Congress detailing which foreign defense companies have “substantial contracts with, ties to, or support from” the Chinese military.
Six months after the report is released, American companies and citizens must divest from those firms and would then be prohibited from making new investments in them.
“On one hand, Congress is asking taxpayers to help grow our military so we can compete with China. On the other hand, large U.S. investment funds are dumping U.S. dollars into China’s military industrial base,” Banks declared in a statement. “We need to end our cognitive dissonance and stop funding the rise of our chief global adversary.”
This move comes at a time when U.S. relations with China have become testy due to China’s lack of transparency with regards to the Wuhan virus outbreak. Other issues such as Beijing’s decision to put the clamps on Hong Kong’s independence and its controversial internment policies directed towards Uighur Muslims.
On June 6, 2020. President Donald Trump said his administration will look into ways of protecting Americans from the dangers of investing in Chinese companies. It plans on doing so by dialing up pressure on the companies to comply with U.S. accounting and disclosure standards.
Thanks to President Donald Trump’s focus on China during the campaign trail and throughout his presidency, Republicans are waking up to the existential threat that it poses. China is resoundingly authoritarian and has ambitions of global domination.
Policymakers must recognize that China is not a normal trading partner. It’s a geopolitical threat and it should not be coddled through free trade and its citizens should not be allowed to enter the U.S. at will.
Rival Candidate Spreads Fake News Attacks Against Anti-Lockdown Hero Shelley Luther
Shelley Luther, the candidate for Texas’ Senate District 30, is beginning to face heat from her rivals in the Senate seat’s special election.
One of her opponents, Drew Springer, the State Representative for Texas’s 68th District, called her out for supposed hypocrisy on the Wuhan virus lockdowns.
On Facebook he commented, “Shelley Luther sang a different tune about forced COVID-19 shutdowns before she realized she could use it for her political benefit.
While she thought her record could be deleted from Facebook, there was only so long she could hide. #ShutdownShelley”
Springer referred to a comment Luther made on March 16 where she said “Just my opinion. If some major cities are closing down building where large gatherings occur, then EVERY city should. The problem will not fix if some people are out and about.”
However, several users commenting on Springer’s Facebook post were quick to point out some nuances in Luther’s comments.
The main gist of their comments was that Luther said that it didn’t make any sense for a few venues to remain open and others not be closed. In essence, she was calling for policy consistency, not for selective enforcement of lockdowns.
Luther made a name for herself earlier this year when she resisted the city of Dallas’ shutdown order and continued operating her business in defiance of this ordinance.
She would later face jail time for her refusal to comply but would later be pardoned by Texas Governor Greg Abbott.
Luther has received endorsements from organizations such as Texas Gun Rights PAC for her staunch liberty activism and commitment to American principles such as the Second Amendment.
The Dallas salon owner is one of the more high-profile state level candidates running for office and has become a national figure of resistance against the Wuhan virus lockdowns.
A Luther victory would represent a major win for Texas conservatives who have been disappointed with the legislative body’s performance over the years.
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