Congress Takes Action Against Economic and Military Threats Posed by the PRC

The US House Financial Services and Armed Services committees are holding hearings this week in response to the increasing economic and military threats posed by the People's Republic of China (PRC). On Tuesday, February 7, the Financial Services Committee held a hearing on economic threats posed by China, while the Armed Services Committee held a hearing on the CCP’s alleged threats to US national defense. The Financial Services Committee, led by Chairman Patrick McHenry (NC-10), also scheduled a number of subcommittee hearings to discuss related issues.^[0]

The hearings will cover topics such as the accredited investor definition, capital access for small businesses, and the revamping and revitalizing of banking in the 21st century. The livestreams of the hearings will be available on the Committee’s website, along with relevant legislation, committee memos, and witness lists.^[0]

The Financial Services Committee is leading the Congress’ economic agenda in response to China with the intention of protecting the US from the CCP’s efforts to become a global economic and technological power. Both committees are committed to strengthening America’s resolve against the CCP with the goal of ensuring the US, not China, wins the future.

0. “House Financial Services Committee Schedules First Hearings; Threat Of China, Definition Of Accredited” Crowdfund Insider, 2 Feb. 2023, https://www.crowdfundinsider.com/2023/02/201967-house-financial-services-committee-schedules-first-hearings-threat-of-china-definition-of-accredited-investor-and-more/