PRESSURE REGULATORY ORGANIZATIONS TO END CHINESE THREATS TO TAIWAN ACT

On 2026-02-09, Representative Frank D. Lucas (R-OK-3) delivered a floor speech titled "PRESSURE REGULATORY ORGANIZATIONS TO END CHINESE THREATS TO TAIWAN ACT" in the House. The speech addressed the economy and also covered taxes, the environment. It referenced legislation: HR1531.

PRESSURE REGULATORY ORGANIZATIONS TO END CHINESE THREATS TO TAIWAN ACT

Congressional Record, Volume 172 Issue 27 (Monday, February 9, 2026) [Congressional Record Volume 172, Number 27 (Monday, February 9, 2026)] [House] [Pages H2078-H2080] From the Congressional Record Online through the Government Publishing Office [ www.gpo.gov ] PRESSURE REGULATORY ORGANIZATIONS TO END CHINESE THREATS TO TAIWAN ACT Mr. HILL of Arkansas. Mr. Speaker, I move to suspend the rules and pass the bill (H.R. 1531) to direct certain financial regulators to exclude representatives of the People's Republic of China from certain banking organizations upon notice of certain threats or danger, and for other purposes, as amended. The Clerk read the title of the bill. The text of the bill is as follows: H.R. 1531 Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Pressure Regulatory Organizations To End Chinese Threats to Taiwan Act'' or the ``PROTECT Taiwan Act''. SEC. 2. STATEMENT OF POLICY REGARDING THE EXCLUSION OF REPRESENTATIVES OF THE PEOPLE'S REPUBLIC OF CHINA FROM CERTAIN BANKING ORGANIZATIONS UPON NOTICE OF CERTAIN THREATS OR DANGER. (a) In General.--If the President, pursuant to section 3(c) of the Taiwan Relations Act (22 U.S.C. 3302(c)), informs the Congress of any threat to the security or the social or economic system of the people on Taiwan and any danger to the interests of the United States arising therefrom resulting from actions of the People's Republic of China, it is the policy of the United States to seek to exclude representatives of the People's Republic of China, to the maximum extent practicable, from participation in meetings, proceedings, and other activities of the following organizations: (1) The Group of Twenty. (2) The Bank for International Settlements. (3) The Financial Stability Board. (4) The Basel Committee on Banking Supervision. (5) The International Association of Insurance Supervisors. (6) The International Organization of Securities Commissions. (b) Policy Advancement.--The Secretary of the Treasury, the Board of Governors of the Federal Reserve System, and the Securities and Exchange Commission shall take all necessary steps to advance the policy set forth in subsection (a). (c) Waiver.--The President may waive the application of subsection (a) with respect to an [[Page H2079]] organization upon submission of a report to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate-- (1) that such waiver is in the national interest of the United States; and (2) that contains an explanation of the reasons therefor. (d) Sunset.--This Act and the requirements of this Act shall have no force or effect on the date that is the earlier of-- (1) 5 years after the date of the enactment of this Act; or (2) 30 days after the date on which the President notifies Congress that the termination of this Act is in the national interest of the United States. The SPEAKER pro tempore. Pursuant to the rule, the gentleman from Arkansas (Mr. Hill) and the gentlewoman from Ohio (Mrs. Beatty) each will control 20 minutes. The Chair recognizes the gentleman from Arkansas. General Leave Mr. HILL of Arkansas. Mr. Speaker, I ask unanimous consent that all Members may have 5 legislative days to revise and extend their remarks and include extraneous material on this bill. The SPEAKER pro tempore. Is there objection to the request of the gentleman from Arkansas? There was no objection. Mr. HILL of Arkansas. Mr. Speaker, I yield myself such time as I may consume. Mr. Speaker, I rise today in support of Mr. Lucas' bill, the PROTECT Taiwan Act. Mr. Speaker, China has shown no sign of slowing their aggression toward Taiwan. The Chinese Communist Party, or CCP, continues to threaten the people of Taiwan's independence by repeatedly holding military drills, increasing economic coercion, and ramping up political pressure. Let me state clearly, Mr. Speaker, and with no equivocation, the Chinese Communist Party's obligation under the 1979 Taiwan Relations Act, which sets out quite clearly that China cannot use military force or coercion, boycotts or embargoes to compel Taiwan to capitulate to the Communists and become One China. The PROTECT Taiwan Act will exclude Chinese representatives from international organizations like the G20 and the Financial Stability Board if the President of the United States notifies Congress declaring any threat to Taiwan. H.R. 1531 ensures there will be significant financial and diplomatic consequences for China to invade Taiwan. Full stop. The U.S. must send a clear message that China's aggression toward Taiwan will not and is not tolerated, and the PROTECT Taiwan Act does just that. I thank the gentleman from Oklahoma (Mr. Lucas) for his work in standing up for our keen allies in the Indo-Pacific, not just Taiwan but all of our allies in northeast Asia. This is a key step in deterrence to the Communists in Beijing from invading Taiwan, and I urge all of my colleagues to support this bill. Mr. Speaker, I reserve the balance of my time. Mrs. BEATTY. Mr. Speaker, I yield myself such time as I may consume. Mr. Speaker, I rise in support of H.R. 1531, the PROTECT Taiwan Act, sponsored by Representatives Lucas and Gonzalez. China continues its provocations toward Taiwan with increasingly hostile rhetoric and actions. This includes military incursions into Taiwan's airspace and territorial waters. Thus, I agree with the sponsors of this bill that Congress must stand up for Taiwan and its people as they confront this threat. This is especially true, given the Trump administration's naive, waffling actions regarding Taiwan's status. It is important that this body continue to stand up for our decades-long relationship as allies and trading partners. This bill is a sensible measure to warn China that the United States is poised to act should it escalate its aggression toward Taiwan. If China chooses to do so, the United States would be required to oppose China's participation in a number of international financial organizations, including the Bank for International Settlements and the Basel Committee on Banking Supervision. Mr. Speaker, I urge my colleagues to support this bill, and I reserve the balance of my time. Mr. HILL of Arkansas. Mr. Speaker, I yield 3 minutes to the gentleman from Oklahoma (Mr. Lucas), the chair of our Task Force on Monetary Policy, Treasury Market Resilience, and Economic Prosperity and the author of the PROTECT Taiwan Act. Mr. LUCAS. Mr. Speaker, I thank the chairman for yielding time. Mr. Speaker, I am proud to rise today in support of my bill, H.R. 1531, the PROTECT Taiwan Act. Under the Taiwan Relations Act, the President is required to notify Congress if China poses an immediate threat to Taiwan's security. If this notification is triggered, my bill states that it is U.S. policy to exclude Chinese representatives from key international organizations such as the G20, the Financial Stability Board, and the Basel Committee on Banking Supervision. This bill sends a clear message. If China intends to engage in conflict with Taiwan, then China should be prepared to withstand the consequences. In the wake of the Russian invasion of Ukraine, this body enacted a similar regime to demonstrate to the world that violating international order comes with swift and severe results. We should have a proactive policy toward Beijing today. As China continues to show aggression in the South China Sea, the United States must show clear resolve that aggression will not be tolerated. The United States' response to an invasion of Taiwan should be robust and include numerous sanctions and economic penalties. Exclusion from international bodies must be a part of that response. If China seeks to disrupt the global order, then China cannot continue to be party to international organizations that seek to preserve that order. {time} 1650 China's position in multilateral economic institutions will be at risk should they engage in hostilities toward Taiwan. We simply cannot overlook the value of deterrence and preparedness. China should understand the economic and diplomatic repercussions of threatening international financial stability and make its choices accordingly. Mr. Speaker, I thank my colleague from Texas (Mr. Gonzalez) for his work on this issue and for cosponsoring this legislation. We received unanimous support in the committee, and I hope that the body will continue that tradition today. Mrs. BEATTY. Mr. Speaker, I yield myself the balance of my time. Mr. Speaker, we share economic security and democratic values with our friends from Taiwan. In the face of increasingly hostile words and actions from China and predictably flimsy support from the President, it is important that Congress stand strong for the Taiwanese people. Mr. Speaker, I again urge my colleagues to support this bill, and I yield back the balance of my time. Mr. HILL of Arkansas. Mr. Speaker, I yield myself the balance of my time. Mr. Speaker, I noted in my remarks that the only way that Taiwan and the People's Republic of China can become one is through mutual consent, not through coercion, not through embargoes, not through invasion, and not through military attack. Congressman Lucas' bill is a commonsense measure to unify American policy of economic deterrence, military preparation, peace through strength, but also diplomacy and economic deterrence. Mr. Lucas' bill is an excellent step in that regard. I urge all Members to support it on both sides of the aisle, and I yield back the balance of my time. The SPEAKER pro tempore. The question is on the motion offered by the gentleman from Arkansas (Mr. Hill) that the House suspend the rules and pass the bill, H.R. 1531, as amended. The question was taken. The SPEAKER pro tempore. In the opinion of the Chair, two-thirds being in the affirmative, the ayes have it. Mr. 

Referenced legislation: HR1531, HR1531