H.R. 1716 · Where this bill is now
In the Senate
Passed the House Jul 21, 2025. Received Jul 22, 2025; no Senate vote yet
What this bill does
In plain words · AI-written from the official summaryTargets Chinese officials' finances if tensions rise
If the President determines that China poses a threat to U.S. interests, this bill requires the Treasury Department to investigate and report to Congress on money held by certain Chinese Communist Party officials, including how they acquired it and whether illicit or corrupt means were involved. After reporting, the bill prohibits major U.S. financial institutions from conducting significant transactions with these officials and their immediate family members, though the President can waive these prohibitions in certain cases.
How it affects you
This bill doesn't directly affect most Americans' daily lives. If triggered by a presidential determination of Chinese threat, it would mainly impact U.S. banks and financial institutions, which would need to stop doing business with specified Chinese officials. The goal is to use financial pressure as a deterrent in the event of rising U.S.-China tensions.
Read the official summary (Introduced in House, Feb 27, 2025)
Taiwan Conflict Deterrence Act of 2025
This bill, in the event of a threat to U.S. interests by China, (1) requires additional reporting on the domestic and foreign financial activity of specified Chinese officials, and (2) prohibits certain financial transactions with specified Chinese officials.
Upon a determination by the President that such a threat exists, the bill requires the Department of the Treasury to (1) report to Congress on funds held by certain members of the Chinese Communist Party, including the total amount of funds, a description of the funds, and a list of related financial institutions; and (2) brief Congress on how these funds were acquired and any illicit or corrupt means employed to acquire or use the funds. These requirements are subject to specified exemptions and waivers.
After such a report is made, Treasury must prohibit significant transactions between U.S. financial institutions and these individuals (and their immediate family, if appropriate). The bill provides exceptions for intelligence, law enforcement, and national security activities. The President may waive the prohibition under certain circumstances.
Written by AI (Claude) using only the official summary by the Congressional Research Service, the Library of Congress’s nonpartisan research staff. It can miss nuance, so check the official summary and the bill text for details.
1st SessionH. R. 1716
AN ACT
Taiwan Conflict Deterrence Act of 2025
Sponsor: Rep. Lisa C. McClain (R-MI-9) · Introduced Feb 27, 2025 · Finance and Financial Sector · 4 versions of the text
Sources: Congress.gov actions and votes · bill text from GovInfo · latest official action Jul 22, 2025: “Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.”