Taiwan Conflict Deterrence Act of 2025
Sponsored By: Representative McClain
Passed House
Summary
This bill would create a Treasury-led system to deter PRC influence around Taiwan by identifying and constraining funds tied to top Chinese officials. It would also limit financial services available to immediate family members who benefit from those funds.
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- Immediate family members of listed Chinese officials could face restrictions on accounts and other financial services. Waivers or exemptions can be granted if funds were primarily acquired legally or if cooperation serves U.S. national security interests.
- U.S. and foreign financial institutions would be named in Treasury reports when they hold or provide significant services for those funds, and institutions may be asked to cease accounts or cooperate as a condition for exemption.
- The Secretary of the Treasury would deliver a Financial Institutions Report within 90 days after a presidential notice and provide an unclassified briefing within 30 days, then report annually for 3 years. Each report must cover at least 10 people, including members of the Politburo Standing Committee and other senior party bodies, and the unclassified portions must be publicly posted in English, Chinese, and other appropriate languages in downloadable formats.
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Bill Overview
Analyzed Economic Effects
2 provisions identified: 1 benefits, 0 costs, 1 mixed.
New bank limits on Chinese officials' families
U.S. banks would be barred from significant transactions with listed officials. The ban could also cover immediate family if Treasury finds they benefit from those funds. This would not apply to U.S. intelligence, law enforcement, or national security work. The President could grant waivers and use emergency economic powers; any licenses would be reported to Congress within 60 days. Breaking the rule would bring penalties under IEEPA. The ban would end 30 days after the President reports the threat is gone, or 25 years after the final report. The bill would define who counts as a financial institution and lets Treasury define “funds.” It also defines “immediate family” broadly, including spouses, parents, children, siblings, grandchildren, and certain in‑laws.
Public reports on top Chinese funds
If enacted, Treasury would publish reports on funds tied to at least 10 top PRC officials. This would start within 90 days after a presidential threat notice and continue once a year for 3 years. Each report would estimate total money they control in banks and list the banks involved. Treasury would brief Congress within 30 days on how the money was acquired, including any corrupt means. The public part would be posted online in English, Chinese, and other languages in easy download formats. The President could exempt people or banks, or issue waivers, for legal or national security reasons.
Sponsors & CoSponsors
Sponsor
McClain
MI • R
Cosponsors
Rep. Sherman, Brad [D-CA-32]
CA • D
Sponsored 2/27/2025
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov