East Michigan News

Today, Congressman John Moolenaar expressed his dissatisfaction with the Department of Treasury's announcement of new proposed rules that would allow Chinese Communist Party (CCP) affiliated companies to benefit from federal tax credits. These tax credits were established by President Joe Biden in the Inflation Reduction Act (IRA).

In response to the Treasury's decision, Moolenaar stated, "The United States is in a competition with the CCP and under no circumstance should CCP-affiliated companies receive tax dollars from hard-working Americans. The CCP controls businesses through shell companies and banks, making it hard to tell what it really owns. These companies will take advantage of Treasury's new rules and potentially reap billions of dollars from the American people. This decision makes it clear that Congress must pass my NO GOTION Act to help ensure CCP-affiliated companies do not qualify for these tax credits."

Moolenaar, who is a member of the House Select Committee on the CCP, introduced the No Official Giveaways Of Taxpayers' Income to Oppressive Nations (NO GOTION) Act on November 2. The legislation, known as H.R. 6175, aims to disqualify companies based in China, Iran, North Korea, and Russia from receiving 20 green energy production tax credits established in the IRA.

The NO GOTION Act is a crucial step in safeguarding American taxpayers' money and preventing it from flowing into the hands of oppressive nations. By disqualifying CCP-affiliated companies, the Act aims to protect the interests of hard-working Americans and maintain the competitiveness of the United States in the global market.

Moolenaar's proposed legislation aims to address the challenge posed by the CCP's control over businesses through shell companies and banks. By excluding companies from China, Iran, North Korea, and Russia from receiving these tax credits, the Act seeks to ensure that American tax dollars are not inadvertently supporting oppressive regimes.

The NO GOTION Act will play a vital role in maintaining the integrity of the tax credit system and ensuring that American taxpayer money is used for the benefit of the American people. As Moolenaar rightly argues, it is crucial for Congress to pass this Act in order to prevent CCP-affiliated companies from taking advantage of the Treasury's new rules and potentially receiving billions of dollars at the expense of hard-working Americans.

It is now up to Congress to recognize the importance of this issue and take decisive action by passing the NO GOTION Act. By doing so, they will send a clear message that American taxpayers' money should not be used to support oppressive nations and that the United States remains committed to fair competition and protecting its economic interests.

The text of the NO GOTION Act can be found on Congressman Moolenaar's official website for those interested in learning more about the proposed legislation.

For additional details, please follow this link: https://moolenaar.house.gov/media-center/press-releases/moolenaar-congress-must-pass-no-gotion-act-after-treasury-decision-ccp