Schumer Announces Framework For Bipartisan China Bill

Senate Majority Leader Chuck Schumer, flanked by 13 Senate Democrat committee chairs, has deliver a press conference on the Hill announcing a “new initiative to outcompete Chinese Communist Party.”

• Schumer: “We will work in a bipartisan fashion, like we modelled with CHIPS and Science, to continue to boost our national security and compete and counter the Chinese government’s role throughout the world.”
• Schumer: “Today we are announcing a new initiative, one that will build on this momentum and develop new and significant bipartisan legislation.”
• Schumer says that Democrat committee chairs will work with their Republican ranking members and begin working, “to deliver packages of bipartisan legislation which we will combine into one large Chinese government competition bill.”

Schumer says the bill we have "five key areas" of focus.

• 1. Limiting the flow of advanced technology to the Chinese government
• 2. Limit the flow of investment to the Chinese government
• 3. Domestic economic investments
• 4. Economic ally and partner alignment
• 5. Ally and partner alignment in security