Votes on ten financial services bills

PROTECT Taiwan Act

• Seek to exclude Chinese representatives: If the President informs Congress that actions by China threaten Taiwan’s security, social system, or economic system and endanger U.S. interests, U.S. policy would be to seek, to the maximum extent practicable, to exclude Chinese representatives from activities of six named international financial organizations
• Direct three agencies to advance the policy: The Treasury Secretary, Federal Reserve Board, and Securities and Exchange Commission would have to take all necessary steps to advance the exclusion policy
• Allow waivers and set an end date: The President could waive the policy for an organization if the President reports to two congressional committees that a waiver is in the U.S. national interest and explains why. The act would end five years after enactment or 30 days after the President tells Congress that ending it is in the national interest, whichever comes first

1. Introduced
2. In committee
3. Reported
4. Passed House
5. Passed Senate
6. Law

What’s next: Passed the House. Next step: the Senate.