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Tuesday, October 1, 2024

Bill targeting financial assets of Chinese leaders passes House

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French Hill U.S. House of Representatives from Arkansas's 2nd district | Official U.S. House Headshot

French Hill U.S. House of Representatives from Arkansas's 2nd district | Official U.S. House Headshot

Rep. French Hill (AR-02) announced today that his bill, H.R. 554 - Taiwan Conflict Deterrence Act, has passed the House of Representatives. The legislation aims to expose the financial corruption of China's top leaders and their families if China engages in hostile military action against Taiwan.

"As we have seen in current conflicts around the world, deterring our foreign adversaries from taking further aggressive steps on the world stage is crucial to enhance global stability and strengthen America’s national security," Hill stated. "Under Speaker Johnson’s leadership, many of these bills we are voting on in the House this week do just that."

Hill continued, "I applaud the passage of my bipartisan bill to expose the financial corruption of top Chinese leaders and their families triggered should China dare to utilize military force to take control of Taiwan and am pleased my bill is one step closer to becoming law. We must demonstrate unified strength in curbing Chinese aggression and thereby safeguarding our strategic interests and those of our allies."

The Taiwan Conflict Deterrence Act mandates public disclosure of the financial assets held by China's top leaders if an invasion occurs.

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