WASHINGTON – U.S. Senator Tommy Tuberville (R-AL), on Tuesday, introduced the Prohibiting TSP Investment in China Act. This bill would prohibit Thrift Savings Plan (TSP) funds from being invested in any entity based in the People’s Republic of China (PRC). Below is an array of news coverage highlighting the Prohibiting TSP Investment in China Act.
“Not one dime of [our money] needs to go to anything funding the CCP or anything it intends to build against the United States of America or our troops,” Tuberville said. “This is a common-sense approach of doing what we can for military and government workers not to fund what’s going on in China. This should be bipartisan. We can fight back by not sending over money to invest in what they do.” Click here to read the full story.
“We’ve seen it time and again—Chinese companies don’t play by the rules, committing intellectual property theft and disregarding basic regulatory standards at the expense of investors,” Tuberville said in a statement. Click here to read the full story.
And we don’t want to invest that money in Chinese companies to prop up the Chinese. And so what we want to do is put this legislation through to tell this five-member board, hey, invest money, make money for our military and our government workers, but do not invest it in China,” Tuberville said. Click here to read the full story.
“It is time to take a serious, united and bipartisan approach to disentangle American financial investment with China and send the message that American capital will not support Chinese aggression,” Mr. Tuberville said in a news release. Click here to read the full story.
“We want to go with companies that are going to go by the rules, fight for democracy. And at the end of the day, this legislation pretty much says, this is a message that sends zero tolerance to the Chinese to block their aggression towards United States and the rest of the world,” said Tuberville. Click here to read the full story.
The $700 billion Thrift Savings Plan for federal employees and retirees should not be investing in Chinese companies. Click here to read the full story.
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Senator Tommy Tuberville represents Alabama in the United States Senate and is a member of the Senate Armed Services, Agriculture, Veterans’ Affairs, and HELP Committees.