Political Quotes

“The section 1260H was established by the fiscal year 2021 NDAA to blacklist Chinese companies with close ties to the People's Liberation Army as well as other companies, so-called civil-military fusion contributors. The FY 2023 NDAA went even further, applying sanctions for those entities on the list. Section 1260H addition certainly hurts a company's shareholder value, which is the point. It protects American investors from unwittingly supporting companies underwriting China's military modernization and/or genocide. This amendment simply ensures that for the coming fiscal year, the Biden administration cannot remove any CCP company designated for the Department of Defense section 1260H list. I understand there is similar language in the underlying bill, but the language has a waiver so broad you could drive a Chinese tank through it. I am therefore offering it as a stand-alone to continue to push for full funding prohibition. Mr. Chair, I reserve the balance of my time. Ms. McCOLLUM. Mr. Chair, I claim the time in opposition. The Acting CHAIR. The gentlewoman from Minnesota is recognized for 5 minutes. Ms. McCOLLUM. Mr. Chair, I rise in opposition. As was pointed out, section 1260H of the FY21 NDAA requires the Secretary of Defense to maintain a list of Chinese military companies that are operating directly or indirectly in the United States and publicly report such a list. This list is required to be submitted annually until December 31, 2030.…”