{"id":1244557,"date":"2022-01-26T18:52:48","date_gmt":"2022-01-26T23:52:48","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1244557"},"modified":"2022-01-26T18:52:58","modified_gmt":"2022-01-26T23:52:58","slug":"patrick-mchenry-anti-china-bill-does-nothing-to-combat-china-democrats-desperate-for-a-win","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/patrick-mchenry-anti-china-bill-does-nothing-to-combat-china-democrats-desperate-for-a-win\/","title":{"rendered":"Patrick McHenry: Anti-China Bill Does Nothing to Combat China, Democrats &#039;Desperate for a Win&#039;"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fpatrick-mchenry-anti-china-bill-does-nothing-to-combat-china-democrats-desperate-for-a-win%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1244557&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/01\/5f9b934a8cb3f.image_-640x335-1.png\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<p class=\"subheading\">House Financial Services Committee Ranking Member Patrick McHenry said in a statement on Wednesday that the House Democrats\u2019 anti-China bill would do nothing to combat the \u201crise\u201d of China and that Democrats are \u201cdesperate\u201d for a victory as their legislative agenda has stalled.<\/p>\n<p>House Democrats released their vision aimed at helping the United States combat a rising China, especially in advanced manufacturing and fixing the supply chain.<\/p>\n<figure id=\"D-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"M-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"gmxrevmore\" class=\"H\"><\/figure>\n<p>As Breitbart News <a href=\"https:\/\/www.breitbart.com\/politics\/2022\/01\/26\/democrat-anti-china-bill-riddled-with-woke-climate-change-carveouts19632674\/\">reported<\/a>, the bill is riddled with climate change carveouts and woke provisions.<\/p>\n<p>McHenry charged that the legislation would not help the United States concerning its political and economic competition with China.<\/p>\n<p>\u201cThis Democrat bill does nothing to combat the rise of the Chinese Communist Party,\u201d McHenry said. \u201cSpeaker Pelosi has once again put together a partisan bill with no Republican input.\u201d<\/p>\n<p>McHenry said:<\/p>\n<figure id=\"M-ROS-B2\" class=\"a8d\"><\/figure>\n<blockquote>\n<p>Financial Services Democrats\u2019 provisions include: policies&nbsp;to cover up for the Biden Administration\u2019s giveaway of $40 billion in no-strings-attached IMF money to the CCP last spring, and their support for $130 billion more last summer; as well as granting Treasury unchecked authority to block Americans\u2019 digital currency payments worldwide.<\/p>\n<p>Most of these partisan provisions have never been marked up by our Committee and three were already rejected during NDAA negotiations.<\/p>\n<\/blockquote>\n<p>As mentioned by McHenry, the legislation contains a provision that would regulate bitcoin and cryptocurrency activities.<\/p>\n<p>Jerry Brito and Peter Van Valkenburgh of the nonpartisan think tank Coin Center noted the provision would&nbsp;\u201c<a href=\"https:\/\/www.coincenter.org\/new-bill-would-hand-treasury-blank-check-to-ban-crypto-at-exchanges\/\">hand<\/a> the Treasury Secretary unchecked discretion to forbid financial institutions (including cryptocurrency exchanges) from offering their customers access to cryptocurrency networks.\u201d<\/p>\n<p>McHenry told Breitbart News in an exclusive interview last that the Republicans have to stop the \u201cnefarious\u201d efforts of the Biden administration and progressives\u2019 assault on bitcoin and the cryptocurrency industry.<\/p>\n<p>House Financial Republicans said in their release that they have released proposals they believe would actually counter the threat of a rising China, including:<\/p>\n<ul>\n<li><a href=\"https:\/\/r20.rs6.net\/tn.jsp?f=001Pqg693xeIHi2KdDNYZtgVmAnjGI-QE8A7XyWPZxnNcbyxhfYGklvjnEDQeBSDRDvptBaAOygRQ7OSnNYCVhlDG8xIrThzIKdPVFY2yDA0DhWC0VtJfZtt3QQhAAge-Vs7dhwxHqPW_DTBBcPzimAnw-2rhn4bWz22qOfk4PJ0f67X_8nLeD3XiwKYuXIJozzwU4rTEGwW3TcweHLH_Jb3tDbqY-3MsqA&amp;c=8RrQJiOUg29GEnn0c90PB6UqfGne25KBiuXc5kY5yORWFR80G_ITNg==&amp;ch=-vouqA-BJbMsvex5CwteDhMUqd0OZLoT7GGIh3j5tp-sQKfXwr4org==\" target=\"_blank\" rel=\"noopener noreferrer\">The Chinese Military Company Sanctions Act<\/a>, introduced by Rep. Andy Barr (KY-06), closes loopholes in U.S. restrictions on publicly traded securities of Chinese military and surveillance companies by requiring the President to impose OFAC sanctions following the listing of such companies by the Department of Defense and Treasury.<\/li>\n<li><a href=\"https:\/\/r20.rs6.net\/tn.jsp?f=001Pqg693xeIHi2KdDNYZtgVmAnjGI-QE8A7XyWPZxnNcbyxhfYGklvjnEDQeBSDRDvzdX9YEpxdmlskdXrCLhlzwl-fhp_cfwwURjF6Yh-p_YC3uG-kkhDv_FMGCx2-PW6Eak5uCIBObnZNthGQ2nHTDsI2AoWxpNk_FLnI7nT1quKnGn2ct0ki73rADdKbhFnKBOJPXu3iFw=&amp;c=8RrQJiOUg29GEnn0c90PB6UqfGne25KBiuXc5kY5yORWFR80G_ITNg==&amp;ch=-vouqA-BJbMsvex5CwteDhMUqd0OZLoT7GGIh3j5tp-sQKfXwr4org==\" target=\"_blank\" rel=\"noopener noreferrer\">The IMF Reform and Integrity Act<\/a>, introduced by Rep. Bill Huizenga (MI-02), prohibits an International Monetary Fund (IMF) quota increase for China unless China abides by the principles of the IMF and is committed to Paris Club rules.<\/li>\n<li><a href=\"https:\/\/r20.rs6.net\/tn.jsp?f=001Pqg693xeIHi2KdDNYZtgVmAnjGI-QE8A7XyWPZxnNcbyxhfYGklvjnEDQeBSDRDvu58_rBaEvLCL0l5UMkqpVLIKFZjUKI0fJdmHCjEPR8-GU5qaNGPswti71EuGOrf1bwPzYveXU8Z_x5u5668yKlzE_Lzh6zTk8iBiVvo2sjxmxmm2PVKolBGzg6lQqa9qDJ1Q2KwP4PM=&amp;c=8RrQJiOUg29GEnn0c90PB6UqfGne25KBiuXc5kY5yORWFR80G_ITNg==&amp;ch=-vouqA-BJbMsvex5CwteDhMUqd0OZLoT7GGIh3j5tp-sQKfXwr4org==\" target=\"_blank\" rel=\"noopener noreferrer\">The Special Drawing Rights Oversight Act<\/a>, introduced by Rep. French Hill (AR-02), limits Treasury\u2019s unilateral authority to allocate Special Drawing Rights, which could be used without conditions to send China billions of dollars in hard currency and allow its borrowers to repay Chinese loans.<\/li>\n<li><a href=\"https:\/\/r20.rs6.net\/tn.jsp?f=001Pqg693xeIHi2KdDNYZtgVmAnjGI-QE8A7XyWPZxnNcbyxhfYGklvjtlYs3fv3wcDhLcZA1Udlshib3dT9BA29vDs7ucEhAxUCpfBtRPcJUyhaKhU7d_dNUmaROU-HgCTy72fnw961jReKUlsWyaUa1BlTL0-dw1OxppjP3zvibUc5cTEAqMOv9bE3FokRr7EZUcDEBqIFJ2HRsq_aGtFgPyCp802ABhG__TyG8yh7Vu9vqY8mamIfA==&amp;c=8RrQJiOUg29GEnn0c90PB6UqfGne25KBiuXc5kY5yORWFR80G_ITNg==&amp;ch=-vouqA-BJbMsvex5CwteDhMUqd0OZLoT7GGIh3j5tp-sQKfXwr4org==\" target=\"_blank\" rel=\"noopener noreferrer\">The International Nuclear Energy Financing Act<\/a>, introduced by Republican Leader McHenry, responds to Chinese financing of energy infrastructure abroad, including nuclear power, by requiring the U.S. Executive Director at the World Bank to support financial assistance for the generation and distribution of nuclear energy.<\/li>\n<li><a href=\"https:\/\/r20.rs6.net\/tn.jsp?f=001Pqg693xeIHi2KdDNYZtgVmAnjGI-QE8A7XyWPZxnNcbyxhfYGklvjnEDQeBSDRDvxLZrGeab1RnEoQ8mbvvN5O7rtdkSx7Tdt39ZLE4WLVxECvutWXNM2TsxHaLytZLEtr7p8YgOcRYudYViBJpmrDoUfOWExaYNy_GB0fSQZRxwGy8-BONQQ9qDLivB20gTANJnMKrwxrUtipko-IO-WBfb1g4cG0N9IQdK37FDA66tHo0TLtAp3XfiDbyAELunGXyy2SSHxUWKsqTiITGwNYWRR0-L2rhC&amp;c=8RrQJiOUg29GEnn0c90PB6UqfGne25KBiuXc5kY5yORWFR80G_ITNg==&amp;ch=-vouqA-BJbMsvex5CwteDhMUqd0OZLoT7GGIh3j5tp-sQKfXwr4org==\" target=\"_blank\" rel=\"noopener noreferrer\">The Neutralizing Unfair Chinese Export Subsidies Act<\/a>, introduced by Rep. Lee Zeldin (NY-01), requires a Treasury strategy and progress reports to advance international negotiations to bring China into compliance with the OECD Arrangement on Officially Supported Export Credits.<\/li>\n<li><a href=\"https:\/\/r20.rs6.net\/tn.jsp?f=001Pqg693xeIHi2KdDNYZtgVmAnjGI-QE8A7XyWPZxnNcbyxhfYGklvjnEDQeBSDRDv9Dx-Sq-lUeSwHjmiPUj9E8PV3L-JVg13rIt3DBmwiVIwGL9YxWWC_aKC-FzGSOWM11zQmzVSbAmUTMSYVaBTSNOoT3TKgOfjVjN4DsUyrCTd2_iJidVetYbGJn7uiRTOllcQyIH3o5Nlo9WO6kSU1MjITKnkikS2&amp;c=8RrQJiOUg29GEnn0c90PB6UqfGne25KBiuXc5kY5yORWFR80G_ITNg==&amp;ch=-vouqA-BJbMsvex5CwteDhMUqd0OZLoT7GGIh3j5tp-sQKfXwr4org==\" target=\"_blank\" rel=\"noopener noreferrer\">The Taiwan Non-Discrimination Act<\/a>, introduced by Rep. Anthony Gonzalez (OH-16), requires the U.S. to support Taiwan\u2019s membership and meaningful participation in the IMF.<\/li>\n<li><a href=\"https:\/\/r20.rs6.net\/tn.jsp?f=001Pqg693xeIHi2KdDNYZtgVmAnjGI-QE8A7XyWPZxnNcbyxhfYGklvjnEDQeBSDRDvyja6vQ0V6Ux7HPDH1FIRmE8GJMiFbdEip_5RXaeIVLsvmgrQpyH-4lLuN_mz_zl69RkxFlBzg9uPp3ydTptEsf0HN8edypXxuI_SjAtobQMcOIFPtgr-CXi5cuhkBlFFiJ-A-eeJ0sM=&amp;c=8RrQJiOUg29GEnn0c90PB6UqfGne25KBiuXc5kY5yORWFR80G_ITNg==&amp;ch=-vouqA-BJbMsvex5CwteDhMUqd0OZLoT7GGIh3j5tp-sQKfXwr4org==\" target=\"_blank\" rel=\"noopener noreferrer\">The Chinese Currency Accountability Act<\/a>, introduced by Rep. Warren Davidson (OH-08), makes any increase in the Chinese renminbi\u2019s weighting in the IMF\u2019s Special Drawing Rights currency basket conditional on Treasury certifying that China is complying with key provisions of the IMF\u2019s Articles of Agreement, the Paris Club, and the OECD Arrangement on Officially Supported Export Credits.<\/li>\n<li><a href=\"https:\/\/r20.rs6.net\/tn.jsp?f=001Pqg693xeIHi2KdDNYZtgVmAnjGI-QE8A7XyWPZxnNcbyxhfYGklvjnEDQeBSDRDvkmQGz6-3E_WVeI87M-0XDU3KWRS3ddxEQpofDPAV7VZAuVs47v6dD9OyBOUr0ZuGlZ8brV5MkrEjQxZnLhoYcdOHsXET75D8hazFXaxmgIKFo460h7-NJj_Wja26fppm4bfz8h158yg=&amp;c=8RrQJiOUg29GEnn0c90PB6UqfGne25KBiuXc5kY5yORWFR80G_ITNg==&amp;ch=-vouqA-BJbMsvex5CwteDhMUqd0OZLoT7GGIh3j5tp-sQKfXwr4org==\" target=\"_blank\" rel=\"noopener noreferrer\">The 21<\/a><a href=\"https:\/\/r20.rs6.net\/tn.jsp?f=001Pqg693xeIHi2KdDNYZtgVmAnjGI-QE8A7XyWPZxnNcbyxhfYGklvjnEDQeBSDRDvkmQGz6-3E_WVeI87M-0XDU3KWRS3ddxEQpofDPAV7VZAuVs47v6dD9OyBOUr0ZuGlZ8brV5MkrEjQxZnLhoYcdOHsXET75D8hazFXaxmgIKFo460h7-NJj_Wja26fppm4bfz8h158yg=&amp;c=8RrQJiOUg29GEnn0c90PB6UqfGne25KBiuXc5kY5yORWFR80G_ITNg==&amp;ch=-vouqA-BJbMsvex5CwteDhMUqd0OZLoT7GGIh3j5tp-sQKfXwr4org==\" target=\"_blank\" rel=\"noopener noreferrer\"><sup>st<\/sup><\/a><a href=\"https:\/\/r20.rs6.net\/tn.jsp?f=001Pqg693xeIHi2KdDNYZtgVmAnjGI-QE8A7XyWPZxnNcbyxhfYGklvjnEDQeBSDRDvkmQGz6-3E_WVeI87M-0XDU3KWRS3ddxEQpofDPAV7VZAuVs47v6dD9OyBOUr0ZuGlZ8brV5MkrEjQxZnLhoYcdOHsXET75D8hazFXaxmgIKFo460h7-NJj_Wja26fppm4bfz8h158yg=&amp;c=8RrQJiOUg29GEnn0c90PB6UqfGne25KBiuXc5kY5yORWFR80G_ITNg==&amp;ch=-vouqA-BJbMsvex5CwteDhMUqd0OZLoT7GGIh3j5tp-sQKfXwr4org==\" target=\"_blank\" rel=\"noopener noreferrer\"> Century Dollar Act<\/a>, introduced by Rep. Hill, requires Treasury to assess the risk regarding internationalization of the Chinese renminbi and a U.S. strategy on maintaining the U.S. dollar\u2019s position as the global reserve currency.<\/li>\n<\/ul>\n<p>\u201cThis is bad process, bad policy, and represents an unserious approach born of Democrats\u2019 desperation for a win\u2014after failing on everything from inflation to the COVID response,\u201d McHenry concluded in his statement.<\/p>\n<p><i>Sean Moran is a congressional reporter for Breitbart News. Follow him on Twitter <\/i><a href=\"https:\/\/twitter.com\/SeanMoran3\"><span><i>@SeanMoran3<\/i><\/span><\/a><i>.<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>House Financial Services Committee Ranking Member Patrick McHenry said in a statement on Wednesday that the House Democrats\u2019 anti-China bill would do nothing to combat the \u201crise\u201d of China and &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1244557","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1244557","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1244557"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1244557\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1244557"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1244557"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1244557"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}