[Congressional Record Volume 172, Number 27 (Monday, February 9, 2026)]
[House]
[Pages H2078-H2080]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]
PRESSURE REGULATORY ORGANIZATIONS TO END CHINESE THREATS TO TAIWAN ACT
Mr. HILL of Arkansas. Mr. Speaker, I move to suspend the rules and
pass the bill (H.R. 1531) to direct certain financial regulators to
exclude representatives of the People's Republic of China from certain
banking organizations upon notice of certain threats or danger, and for
other purposes, as amended.
The Clerk read the title of the bill.
The text of the bill is as follows:
H.R. 1531
Be it enacted by the Senate and House of Representatives of
the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Pressure Regulatory
Organizations To End Chinese Threats to Taiwan Act'' or the
``PROTECT Taiwan Act''.
SEC. 2. STATEMENT OF POLICY REGARDING THE EXCLUSION OF
REPRESENTATIVES OF THE PEOPLE'S REPUBLIC OF
CHINA FROM CERTAIN BANKING ORGANIZATIONS UPON
NOTICE OF CERTAIN THREATS OR DANGER.
(a) In General.--If the President, pursuant to section 3(c)
of the Taiwan Relations Act (22 U.S.C. 3302(c)), informs the
Congress of any threat to the security or the social or
economic system of the people on Taiwan and any danger to the
interests of the United States arising therefrom resulting
from actions of the People's Republic of China, it is the
policy of the United States to seek to exclude
representatives of the People's Republic of China, to the
maximum extent practicable, from participation in meetings,
proceedings, and other activities of the following
organizations:
(1) The Group of Twenty.
(2) The Bank for International Settlements.
(3) The Financial Stability Board.
(4) The Basel Committee on Banking Supervision.
(5) The International Association of Insurance Supervisors.
(6) The International Organization of Securities
Commissions.
(b) Policy Advancement.--The Secretary of the Treasury, the
Board of Governors of the Federal Reserve System, and the
Securities and Exchange Commission shall take all necessary
steps to advance the policy set forth in subsection (a).
(c) Waiver.--The President may waive the application of
subsection (a) with respect to an
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organization upon submission of a report to the Committee on
Financial Services of the House of Representatives and the
Committee on Banking, Housing, and Urban Affairs of the
Senate--
(1) that such waiver is in the national interest of the
United States; and
(2) that contains an explanation of the reasons therefor.
(d) Sunset.--This Act and the requirements of this Act
shall have no force or effect on the date that is the earlier
of--
(1) 5 years after the date of the enactment of this Act; or
(2) 30 days after the date on which the President notifies
Congress that the termination of this Act is in the national
interest of the United States.
The SPEAKER pro tempore. Pursuant to the rule, the gentleman from
Arkansas (Mr. Hill) and the gentlewoman from Ohio (Mrs. Beatty) each
will control 20 minutes.
The Chair recognizes the gentleman from Arkansas.
General Leave
Mr. HILL of Arkansas. Mr. Speaker, I ask unanimous consent that all
Members may have 5 legislative days to revise and extend their remarks
and include extraneous material on this bill.
The SPEAKER pro tempore. Is there objection to the request of the
gentleman from Arkansas?
There was no objection.
Mr. HILL of Arkansas. Mr. Speaker, I yield myself such time as I may
consume.
Mr. Speaker, I rise today in support of Mr. Lucas' bill, the PROTECT
Taiwan Act.
Mr. Speaker, China has shown no sign of slowing their aggression
toward Taiwan. The Chinese Communist Party, or CCP, continues to
threaten the people of Taiwan's independence by repeatedly holding
military drills, increasing economic coercion, and ramping up political
pressure.
Let me state clearly, Mr. Speaker, and with no equivocation, the
Chinese Communist Party's obligation under the 1979 Taiwan Relations
Act, which sets out quite clearly that China cannot use military force
or coercion, boycotts or embargoes to compel Taiwan to capitulate to
the Communists and become One China.
The PROTECT Taiwan Act will exclude Chinese representatives from
international organizations like the G20 and the Financial Stability
Board if the President of the United States notifies Congress declaring
any threat to Taiwan.
H.R. 1531 ensures there will be significant financial and diplomatic
consequences for China to invade Taiwan. Full stop.
The U.S. must send a clear message that China's aggression toward
Taiwan will not and is not tolerated, and the PROTECT Taiwan Act does
just that.
I thank the gentleman from Oklahoma (Mr. Lucas) for his work in
standing up for our keen allies in the Indo-Pacific, not just Taiwan
but all of our allies in northeast Asia. This is a key step in
deterrence to the Communists in Beijing from invading Taiwan, and I
urge all of my colleagues to support this bill.
Mr. Speaker, I reserve the balance of my time.
Mrs. BEATTY. Mr. Speaker, I yield myself such time as I may consume.
Mr. Speaker, I rise in support of H.R. 1531, the PROTECT Taiwan Act,
sponsored by Representatives Lucas and Gonzalez.
China continues its provocations toward Taiwan with increasingly
hostile rhetoric and actions. This includes military incursions into
Taiwan's airspace and territorial waters. Thus, I agree with the
sponsors of this bill that Congress must stand up for Taiwan and its
people as they confront this threat.
This is especially true, given the Trump administration's naive,
waffling actions regarding Taiwan's status. It is important that this
body continue to stand up for our decades-long relationship as allies
and trading partners.
This bill is a sensible measure to warn China that the United States
is poised to act should it escalate its aggression toward Taiwan. If
China chooses to do so, the United States would be required to oppose
China's participation in a number of international financial
organizations, including the Bank for International Settlements and the
Basel Committee on Banking Supervision.
Mr. Speaker, I urge my colleagues to support this bill, and I reserve
the balance of my time.
Mr. HILL of Arkansas. Mr. Speaker, I yield 3 minutes to the gentleman
from Oklahoma (Mr. Lucas), the chair of our Task Force on Monetary
Policy, Treasury Market Resilience, and Economic Prosperity and the
author of the PROTECT Taiwan Act.
Mr. LUCAS. Mr. Speaker, I thank the chairman for yielding time.
Mr. Speaker, I am proud to rise today in support of my bill, H.R.
1531, the PROTECT Taiwan Act.
Under the Taiwan Relations Act, the President is required to notify
Congress if China poses an immediate threat to Taiwan's security. If
this notification is triggered, my bill states that it is U.S. policy
to exclude Chinese representatives from key international organizations
such as the G20, the Financial Stability Board, and the Basel Committee
on Banking Supervision.
This bill sends a clear message. If China intends to engage in
conflict with Taiwan, then China should be prepared to withstand the
consequences.
In the wake of the Russian invasion of Ukraine, this body enacted a
similar regime to demonstrate to the world that violating international
order comes with swift and severe results.
We should have a proactive policy toward Beijing today. As China
continues to show aggression in the South China Sea, the United States
must show clear resolve that aggression will not be tolerated.
The United States' response to an invasion of Taiwan should be robust
and include numerous sanctions and economic penalties. Exclusion from
international bodies must be a part of that response.
If China seeks to disrupt the global order, then China cannot
continue to be party to international organizations that seek to
preserve that order.
{time} 1650
China's position in multilateral economic institutions will be at
risk should they engage in hostilities toward Taiwan. We simply cannot
overlook the value of deterrence and preparedness.
China should understand the economic and diplomatic repercussions of
threatening international financial stability and make its choices
accordingly.
Mr. Speaker, I thank my colleague from Texas (Mr. Gonzalez) for his
work on this issue and for cosponsoring this legislation. We received
unanimous support in the committee, and I hope that the body will
continue that tradition today.
Mrs. BEATTY. Mr. Speaker, I yield myself the balance of my time.
Mr. Speaker, we share economic security and democratic values with
our friends from Taiwan. In the face of increasingly hostile words and
actions from China and predictably flimsy support from the President,
it is important that Congress stand strong for the Taiwanese people.
Mr. Speaker, I again urge my colleagues to support this bill, and I
yield back the balance of my time.
Mr. HILL of Arkansas. Mr. Speaker, I yield myself the balance of my
time.
Mr. Speaker, I noted in my remarks that the only way that Taiwan and
the People's Republic of China can become one is through mutual
consent, not through coercion, not through embargoes, not through
invasion, and not through military attack. Congressman Lucas' bill is a
commonsense measure to unify American policy of economic deterrence,
military preparation, peace through strength, but also diplomacy and
economic deterrence.
Mr. Lucas' bill is an excellent step in that regard. I urge all
Members to support it on both sides of the aisle, and I yield back the
balance of my time.
The SPEAKER pro tempore. The question is on the motion offered by the
gentleman from Arkansas (Mr. Hill) that the House suspend the rules and
pass the bill, H.R. 1531, as amended.
The question was taken.
The SPEAKER pro tempore. In the opinion of the Chair, two-thirds
being in the affirmative, the ayes have it.
Mr. HILL of Arkansas. Mr. Speaker, on that I demand the yeas and
nays.
The yeas and nays were ordered.
The SPEAKER pro tempore. Pursuant to clause 8 of rule XX, further
proceedings on this motion will be postponed.
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