Moolenaar: Biden Regulations on Outbound Investment to China a Good Step, Congress Must Strengthen

WASHINGTON, D.C.-- Yesterday evening, the Department of Treasury released final regulations to implement President Biden's executive order that seeks to restrict investments into countries that pose a national security threat to the United States, like China. Chairman John Moolenaar (R-MI) issued the following statement on this development:

“I commend the Administration on this strong but long overdue step. Now, as the Select Committee’s investigations into the financial industry have shown, more must be done to ensure American money no longer fuels the Chinese Communist Party’s military build-up, its technological ambitions, or its ongoing genocide. Congress should build on these rules and address a broader set of technologies and transactions that threaten our national security. I look forward to working with my colleagues to pass comprehensive outbound investment legislation that cuts off the flow of money to the CCP, protects our country, and provides long-term clarity to American investors.”