Posey files bill ensuring No CARES Act Money for Companies Connected to Chinese Regime

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Posey files bill ensuring No CARES Act Money for Companies Connected to Chinese Regime

Published on

September 26, 2020

By Robert Burns

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Three Florida congressmen are pushing legislation to ensure that funds from the Coronavirus Aid, Relief, and Economic Security (CARES) Act do not go to companies connected to the Chinese regime.

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U.S. Rep. Bill Posey, R-Rockledge., unveiled the “Accountability for CARES Act” on Monday with the backing of a handful of Republicans including U.S. Reps. Matt Gaetz, R-Fla., and Ross Spano, R-Fla.

“Some media reports indicate that perhaps several hundred million dollars of CARES Act funding may have gone to companies that Chinese entities own or invest in,” said Posey on Thursday. “Our legislation will ensure that American small businesses benefit from economic assistance during the pandemic while also strengthening our national security.”

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According to the congressman’s office, the bill “blocks future coronavirus economic assistance from going to an entity that is under foreign ownership, control or influence of the Communist Chinese government, the Communist party of China, or any entity that is based in Communist China” and “contains a provision to allow for past funds to be clawed back from companies with ties to Communist China.”

Posey’s bill was sent to the U.S. House Foreign Affairs Committee. So far, there is no companion measure over in the U.S. Senate.

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