Rep. French Hill
Five bills recently proposed by U.S. Rep. French Hill (R-AR) are part of a concerted effort by the congressman to counter the Chinese Communist Party, which he says “represents the greatest geopolitical challenge of our lifetime.”
“The United States must be strategic in confronting the economic and national security threats posed by a country that continues to commit genocide, steal our intellectual property, make predatory loans to developing countries, and threaten Taiwan,” Rep. Hill said in a Feb. 7 statement. “These five bills will make America and the multilateral organizations we lead stronger.”
The congressman, who serves as vice chairman of the House Financial Services Committee, on Jan. 26 sponsored the bipartisan Taiwan Conflict Deterrence Act, H.R. 554, with lead original cosponsor U.S. Rep. Brad Sherman (D-CA). If enacted, the bill would require public disclosure of the financial assets of top Chinese leaders in the event that China invades Taiwan.
“I am pleased to join forces once again with my friend and colleague, Rep. Hill, to reintroduce the Taiwan Conflict Deterrence Act,” said Rep. Sherman, calling H.R. 554 “critical legislation” that would deter Chinese aggression against Taiwan.
Also on Jan. 26, Rep. Hill sponsored the Securing America’s Vaccines for Emergencies (SAVE) Act, H.R. 555, with lead original cosponsor U.S. Rep. Juan Vargas (D-CA). The bipartisan bill would amend current law to ensure that America diversifies its medical supply chain toward making the U.S. less dependent on foreign manufacturers like China.
“As we learned during the recent COVID-19 pandemic, it is critical for the health and safety of our nation to have the proper medical supplies and materials,” said Rep. Vargas. “The Securing America’s Vaccines for Emergencies Act, which I’m proud to co-sponsor with my colleague, Rep. Hill will help to bolster supply chain security for these important goods.”
On the same day, Rep. Hill also sponsored the 21st Century Dollar Act, H.R. 556, to establish a U.S. policy that would bolster the position of the U.S. dollar as the primary global reserve currency.
If enacted, H.R. 556 also would require the U.S. Treasury Department to assess China’s currency-related policies, according to bill summaries provided by Rep. Hill’s staff.
“This smart bipartisan legislation is more timely than ever as China and our other adversaries continue to grow their influence and expand their use of central bank digital currencies,” said U.S. Rep. Jim Himes (D-CT), the original cosponsor of H.R. 556. “I am proud to join Congressman French Hill in this effort to maintain the preeminence of the dollar and ensure that the United States remains strategically competitive on the global stage.”
Rep. Hill on Jan. 26 also sponsored the IFI Governance Act, H.R. 557, to promote U.S. interests at the International Financial Institutions (IFIs), which include the World Bank, the International Monetary Fund (IMF), and the Multilateral Development Banks. The bill would allow U.S. representatives at the IFIs to waive certain mandates that impede U.S. effectiveness in working with allies and countering China, according to the bill summary.
Lastly, on Jan. 27, Rep. Hill sponsored the Special Drawing Rights (SDR) Oversight Act, H.R. 605, which is cosponsored by U.S. Reps. Andy Barr (R-KY) and Bill Huizenga (R-MI).
If enacted, H.R. 605 would limit the executive branch’s ability to bypass Congress to authorize SDR allocations by the IMF by limiting the size and frequency of allocations unless Congress authorizes them by law.
“The Biden administration has exhibited a clear desire to unilaterally give billions of dollars in Special Drawing Rights to nations that are hostile to the United States,” said Rep. Huizenga. “It is obscene that Democrats in Congress and this administration are okay sending over $41 billion to the Chinese Communist Party, more than $17 billion to Vladimir Putin, and nearly $5 billion to Iran, the world’s leading state sponsor of terrorism.”
Rep. Huizenga added that H.R. 605 “would apply a critical check on the Executive Branch by limiting the total amount and frequency the U.S. Treasury could approve unilaterally while requiring a vote in Congress to approve funding to hostile nations.”