Order expands Trump list of banned firms, Tuberville calls on Congress to act
WASHINGTON – U.S. Senator Tommy Tuberville (R-AL) released the following statement after President Biden issued an executive order barring Americans from investing in firms linked to the Chinese military or China’s surveillance activities:
“This Executive Order is a step in the right direction, and I’m glad President Biden is building on the foundation President Trump laid for ending American investment in Chinese companies. Chinese companies routinely violate U.S. sanction laws and actively enable the Chinese Communist Party’s military expansion and persecution of religious minorities.
“But we need to do more. Congressional action is also needed, and that’s why I call on my colleagues to support my bill, the Prohibiting TSP Investment in China Act. This legislation would ban the Thrift Savings Plan from investing the retirement savings of our military and civilian federal employees in China-based companies. Not a single U.S federal retirement dollar should be invested in companies facilitating China’s rise.”
Sen. Tuberville has been outspoken on the need to permanently prohibit federal retirement savings from being invested in Chinese companies, introducing the Prohibiting TSP Investment in China Act (S. 1665) on May 18, 2021.
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.