Today, the U.S. House of Representatives passed two pieces of bipartisan financial services legislation, including initiatives to combat the flow of illicit fentanyl into our communities and assess the exposure of the American financial system to the People’s Republic of China (PRC).
The financial services bills passed by the House include:
H.R. 1076, the “Preventing the Financing of Illegal Synthetic Drugs Act,” sponsored by Rep. Monica De La Cruz (TX-15), will combat the flow of illicit Chinese fentanyl into American communities through a study on illicit financing in connection with the trafficking of synthetic drugs.
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Watch Rep. De La Cruz’s remarks on the House Floor in support H.R. 1076 here or by clicking the image above.
H.R. 1156, the “China Financial Threat Mitigation Act of 2023,” sponsored by Rep. Abigail Spanberger (VA-07) and Rep. Roger Williams (TX-25), will promote American financial resiliency by requiring the Treasury Secretary to report on global economic risks emanating from the Chinese financial sector.
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Watch Rep. Williams’s remarks on the House Floor in support of H.R. 1156 here or by clicking the image above.
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