All Roll Calls
Yes: 395 • No: 2
119-hr-1531119th CongressWALLET
PROTECT Taiwan Act
Sponsored By: Representative Lucas, Frank D. [R-OK-3]
Passed House
Summary
Directs U.S. regulators to press major international financial bodies to exclude representatives of the People's Republic of China when Beijing threatens Taiwan. It frames the move as a targeted national-security response and assigns implementation to the Secretary of the Treasury, the Board of Governors of the Federal Reserve System, and the Securities and Exchange Commission.
Show full summary
- U.S. regulators will seek to exclude PRC representatives from six major international financial governance bodies, including the Group of Twenty and the Bank for International Settlements.
- PRC representatives would be excluded from participation in meetings, proceedings, and other activities of those bodies when the President notifies Congress of a threat to Taiwan and U.S. interests.
- The President may waive the policy for any organization by reporting to the House Financial Services and Senate Banking committees that the waiver is in the national interest. The Act also sunsets after five years or 30 days after a presidential notice that termination is in the national interest.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Limit China’s role in global finance groups
If enacted, the U.S. would seek to bar officials from China from six global finance groups. This would start only after the President, under the Taiwan Relations Act, tells Congress that China’s actions threaten Taiwan and U.S. interests. The groups are the G20, Bank for International Settlements, Financial Stability Board, Basel Committee, International Association of Insurance Supervisors, and IOSCO. Treasury, the Federal Reserve Board, and the SEC would take all needed steps to carry this out to the maximum extent practicable. The President would be able to waive it for any group by reporting to the House Financial Services and Senate Banking Committees that a waiver is in the national interest; the policy would end after 5 years, or 30 days after the President tells Congress ending it is in the national interest.
Sponsors & CoSponsors
Sponsor
Lucas, Frank D. [R-OK-3]
OK • R
Cosponsors
Rep. Gonzalez, Vicente [D-TX-34]
TX • D
Sponsored 2/24/2025
Rep. Lawler, Michael [R-NY-17]
NY • R
Sponsored 9/16/2025
Roll Call Votes
house vote • 2/9/2026
On Motion to Suspend the Rules and Pass, as Amended
Yes: 395 • No: 2