Summary
Pressure Regulatory Organizations To End Chinese Threats to Taiwan Act or the PROTECT Taiwan Act
This bill requires certain federal entities to seek to exclude China from six international financial organizations if the President informs Congress that China's actions threaten Taiwan and pose a danger to U.S. interests.
Specifically, the bill establishes that it is U.S. policy to seek to exclude Chinese representatives from participating in the activities of six international organizations if the President informs Congress that China's actions pose any (1) threat to Taiwan's security, economic system, or social system; and (2) danger to U.S. interests.
The six specified organizations are
- the Group of Twenty,
- the Bank for International Settlements,
- the Financial Stability Board,
- the Basel Committee on Banking Supervision,
- the International Association of Insurance Supervisors, and
- the International Organization of Securities Commissions.
In the event that the President so informs Congress, the bill requires the Department of the Treasury, the Federal Reserve, and the Securities and Exchange Commission to take all necessary steps to advance the exclusion policy.
The President may waive the application of this policy to an organization if doing so is in the national interest of the United States.
Bill text versions
- IntroducedIntroduced in HousePDF
- IntroducedIntroduced in HouseXML
- IntroducedIntroduced in HouseHTML
- ReportedReported in HousePDF
- ReportedReported in HouseXML
- ReportedReported in HouseHTML
- EngrossedEngrossed in HousePDF
- EngrossedEngrossed in HouseXML
- EngrossedEngrossed in HouseHTML
- ReceivedReferred in SenatePDF
- ReceivedReferred in SenateXML
- ReceivedReferred in SenateHTML
Legislative Journey
- Introduced
- Committee
- Floor
- Passed Chamber 1
- Passed Chamber 2
- Signed
Received in the Senate and Read twice and referred to the Committee on Foreign Relations.
SenateMotion to reconsider laid on the table Agreed to without objection.
HouseOn motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 395 - 2 (Roll no. 58). (text: CR H2078-2079)
HousePassed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 395 - 2 (Roll no. 58). (text: CR H2078-2079)
Considered as unfinished business. (consideration: CR H2082-2083)
HouseAt the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
HouseDEBATE - The House proceeded with forty minutes of debate on H.R. 1531.
HouseConsidered under suspension of the rules. (consideration: CR H2078-2079)
HouseMr. Hill (AR) moved to suspend the rules and pass the bill, as amended.
HousePlaced on the Union Calendar, Calendar No. 338.
HouseCommittee on Foreign Affairs discharged.
HouseCommittee on Foreign Affairs discharged.
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-388, Part I.
HouseReported (Amended) by the Committee on Financial Services. H. Rept. 119-388, Part I.
Ordered to be Reported (Amended) by the Yeas and Nays: 49 - 0.
HouseCommittee Consideration and Mark-up Session Held
HouseReferred to the Committee on Financial Services, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
HouseReferred to the Committee on Financial Services, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
HouseIntroduced in House
Introduced in House