Senate Unanimously Insists CCP Must Play by Our Rules

2020-05-21

This is Frank Gaffney with the Secure Freedom Minute. Yesterday, something almost unimaginable happened. On a major public policy initiative – one with profound national security, as well as financial implications, for millions of Americans – the United States Senate spoke with one, powerful voice. Every Senator voted to ensure that the Chinese Communist Party can no longer garner trillions of dollars from American investors without conforming to our laws, accounting standards and regulatio...

This is Frank Gaffney with the Secure Freedom Minute.

Yesterday, something almost unimaginable happened. On a major public policy initiative – one with profound national security, as well as financial implications, for millions of Americans – the United States Senate spoke with one, powerful voice.

Every Senator voted to ensure that the Chinese Communist Party can no longer garner trillions of dollars from American investors without conforming to our laws, accounting standards and regulations.

Who knows if the House will follow their lead as the bill’s Senate sponsors, Louisiana Republican John Kennedy and Maryland Democrat Chris Van Hollen, are urging.

Either way, what must occur is that the Trump administration formally notify the CCP that, to continue having access to our capital markets, it has to play by our rules. Period. A 2013 bilateral Memorandum of Understanding that waived requirements for US-standard audits for Chinese registrants in our markets must be terminated, now.

This is Frank Gaffney.

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