Bills · 118th Congress · Finance and Financial Sector

China Financial Threat Mitigation Act of 2023

Where it stands

  1. Introduced2/24/23
  2. Passed HousePassed 5/22/23
  3. Senate
  4. President
  5. Law

Passed the House 400–5 on May 22, 2023 (Roll Call 229 →). Received in the Senate on May 30, 2023. No Senate action since.

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Roll calls on this bill

Votes on passage
HouseOn Motion to Suspend the Rules and Pass, as Amended · 5/22/23Suspension of the rulesA fast-track House procedure, usually for measures expected to have broad support. Debate is limited to 40 minutes, no amendments can be offered, and it needs a two-thirds vote of members voting — not a simple majority. A yes vote passes the bill. “As amended” means changes written into the motion itself are included.Rules of the House, Rule XV, clause 1 ↗
Passed
  • Democratic195 Yea · 0 Nay · 18 Not voting
  • Republican205 Yea · 5 Nay · 11 Not voting
  • Independent / Other0 Yea · 0 Nay · 0 Not voting
Official summary (CRS)

China Financial Threat Mitigation Act of 2023

This bill requires the Department of the Treasury, in consultation with specified federal financial agencies, to report on the exposure of the United States to the activity of China's financial sector. The report must include

the effects the reforms to China's financial sector have on U.S. and global financial systems,

Full text on congress.gov ↗
Sponsor
Rep. Abigail Davis Spanberger ( Democrat · VA-7)
Cosponsors
4
Introduced
2/24/23
Policy area
Finance and Financial Sector

What happens next

The Senate must pass the same text, then it goes to the President.

If it isn't enacted by Jan 3, 2025, it expires when the 118th Congress ends.

All actions (15)
  1. 2/24/23Introduced in House
  2. 2/24/23Referred to the House Committee on Financial Services.
  3. 2/28/23Committee Consideration and Mark-up Session Held.
  4. 2/28/23Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 40 - 0.
  5. 5/22/23Reported (Amended) by the Committee on Financial Services. H. Rept. 118-72.
  6. 5/22/23Placed on the Union Calendar, Calendar No. 52.
  7. 5/22/23Mr. Luetkemeyer moved to suspend the rules and pass the bill, as amended.
  8. 5/22/23Considered under suspension of the rules. (consideration: CR H2471-2472)
  9. 5/22/23DEBATE - The House proceeded with forty minutes of debate on H.R. 1156.
  10. 5/22/23At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
  11. 5/22/23Considered as unfinished business. (consideration: CR H2483-2484)
  12. 5/22/23Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 400 - 5 (Roll no. 229). (text: CR H2471)
  13. 5/22/23On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 400 - 5 (Roll no. 229). (text: CR H2471)
  14. 5/22/23Motion to reconsider laid on the table Agreed to without objection.
  15. 5/30/23Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.