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119-s-3447119th CongressWALLET

Fortifying United States Markets Against PRC Military Escalation Act of 2025

Sponsored By: Senator McCormick, David [R-PA]

Introduced

Summary

Assess and prepare U.S. markets for PRC military escalation toward Taiwan. This bill would create an Advisory Committee within the Financial Stability Oversight Council to study market vulnerabilities, advise policy makers, and coordinate with capital market participants to limit economic strain and volatility.

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  • Policy makers and federal agencies would receive vulnerability studies and recommendations every three years and targeted briefings to Congress and the Secretary of State.
  • Capital market participants would have direct representation through 10 appointed private-sector seats and a designated private-sector lead to surface risks and coordinate preparedness.
  • The committee would analyze estimated total costs to the U.S. economy, potential market losses and volatility, effects on securities issued by entities in China or Taiwan and listed in U.S. exchanges, and risks from reductions in Chinese holdings of U.S. Treasury debt.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 1 benefits, 0 costs, 0 mixed.

New advisory panel on China-Taiwan risks

This bill would create an advisory committee to advise the Financial Stability Oversight Council on market risks from possible PRC military escalation toward Taiwan. The Treasury Secretary would chair the committee. It would include designees from the SEC, CFTC, and the Federal Reserve and ten private market experts. One private member would be the private sector lead. The committee would meet in person at least twice a year. Within 3 years after enactment and every 3 years after that, it would study U.S. economic and market vulnerabilities from such escalation, including estimated total cost to the U.S. economy; market impacts and potential losses to U.S. and global markets; capacity of U.S. markets to handle volatility; effects on securities of PRC or Taiwan entities listed on U.S. exchanges; and the risk of reductions in PRC holdings of U.S. Treasury debt. The committee would submit recommendations to FSOC, brief Congress and the Secretary of State, and hold a public meeting while omitting national-security-sensitive portions.

Sponsors & CoSponsors

Sponsor

McCormick, David [R-PA]

PA • R

Cosponsors

  • Sen. Shaheen, Jeanne [D-NH]

    NH • D

    Sponsored 12/11/2025

Roll Call Votes

No roll call votes available for this bill.

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