‘We know that Communist China does its best to hide the finances of its government and businesses from Americans.’
Sens. Rick Scott (R-Fla.), Ted Budd (R-N.C.), and Mike Braun (R-Ind.) introduced legislation on Jan. 11 that calls for increased transparency from the federal government regarding funds flowing to companies in China.
The bill, titled “Our Money in China Transparency Act,” requires the Office of Management and Budget and other agencies to submit annual, detailed reports regarding taxpayers’ money spent on any federal program, project, or activity related to institutions or entities associated with the Chinese regime.
“We know that Communist China does its best to hide the finances of its government and businesses from Americans,” Mr. Scott said in a statement.
The legislation also tracks federal spending on federal-funded entities, including American universities’ China-based campuses.
“When it comes to countries that are our enemies, like Communist China, there needs to be complete transparency and oversight with any resources going their way—especially your tax dollars,” Mr. Scott added.
In November, House Homeland Security Committee Chairman Mark Green (R-Tenn.) reintroduced the companion legislation. The bill “mandates one important thing: transparency,” Mr. Green said at the time. “Taxpayers deserve a detailed look at funds that currently go to entities in China.”
Communist China poses “a threat to our way of life and our national security,” Mr. Green said. “Xi Jinping will stop at nothing to undermine the United States.”
He said that to stop U.S. dollars from enriching the Chinese regime, increasing the transparency of federal funding is important.
“It’s simple—the American people should know which Chinese Communist Party-affiliated entities and institutions receive our federal dollars. And this includes money sent by institutions of higher education that accept taxpayer funding,” Mr. Green said. “No federal department or entity receiving federal funds should be exempt.”
Other Measures
The bill is the latest effort from GOP lawmakers to enhance transparency into how American dollars are invested and how the federal government spends its money in China.
