Congressman John Moolenaar Chairman of the Select Committee on the CCP | Facebook
Congressman John Moolenaar Chairman of the Select Committee on the CCP | Facebook
Yesterday, the Department of Treasury released final regulations to implement President Biden's executive order aimed at restricting investments in countries considered national security threats to the United States, such as China. This move has prompted a response from Chairman John Moolenaar (R-MI).
Moolenaar expressed approval of the administration's action, describing it as "strong but long overdue." He emphasized that further measures are necessary based on findings from the Select Committee’s investigations into the financial industry. According to Moolenaar, these findings indicate that American investments have been contributing to China's military expansion, technological advancements, and ongoing human rights violations.
"Congress should build on these rules and address a broader set of technologies and transactions that threaten our national security," Moolenaar stated. He also highlighted his intention to collaborate with fellow lawmakers to pass comprehensive legislation focused on outbound investment. The goal is to halt financial flows to the Chinese Communist Party (CCP), safeguard national interests, and offer long-term clarity for American investors.
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