Pontiac Times

Reps. Lisa McClain of Michigan and Brad Sherman of California have introduced a bipartisan bill named the Taiwan Conflict Deterrence Act. The legislation aims to expose financial corruption within the Chinese Communist Party (CCP) should military action be taken against Taiwan.

"China’s aggression against Taiwan is not just a threat to our ally but also to democracy around the world," McClain stated. She emphasized that while she hopes such measures will not be necessary, they are crucial for safeguarding national security and regional interests in the Indo-Pacific if the CCP attacks Taiwan.

Sherman expressed his support for the bill, stating, "I am pleased to join Rep. McClain in introducing this commonsense bipartisan legislation to put the government of China on notice that the U.S. Congress is closely watching its increasing aggression towards Taiwan." He added that the bill would act as a deterrent by imposing forceful sanctions if China's actions towards Taiwan escalate.

The proposed Act mandates public disclosure of financial assets held by top Chinese leaders if an invasion occurs. It also requires several actions from the Treasury Secretary: publishing illegal assets of CCP officials within 90 days after any threats toward Taiwan, potentially prohibiting these officials from accessing funds at U.S. financial institutions, briefing Congress within 30 days post-report publication, and ensuring that this report is available in an unclassified form to the American public.

This marks McClain's first legislative proposal in the 119th Congress.

Read the full bill text here.