Yesterday, the Department of Treasury released final regulations to implement President Biden's executive order aimed at restricting investments into countries that pose a national security threat to the United States, such as China. Chairman John Moolenaar (R-MI) responded to this development with a statement.

Moolenaar expressed approval of the administration's action, stating, “I commend the Administration on this strong but long overdue step." He emphasized the need for further measures based on investigations by the Select Committee into the financial industry. According to Moolenaar, "more must be done to ensure American money no longer fuels the Chinese Communist Party’s military build-up, its technological ambitions, or its ongoing genocide."

He called for Congress to expand upon these regulations and address a wider range of technologies and transactions that could threaten national security. Moolenaar stated his intention to collaborate with colleagues in Congress to pass comprehensive outbound investment legislation. The goal is "to cut off the flow of money to the CCP, protect our country, and provide long-term clarity to American investors.”