Three members of the Florida delegation are backing the “Holding China Accountable Act” from U.S. Rep. Devin Nunes, R-Calif.
Hoping to stop the continued theft of American intellectual property by the Chinese regime, Nunes introduced the bill last week. It would have Chinese firms follow American or European accounting standards, insisting Chinese companies have been evading full audits. The bill would also stop Chinese nationals from coming to the U.S. if they hope to come to the U.S. due to reasons involving science, technology, engineering, mathematics (STEM). The proposal would also tighten how colleges and universities report funds from foreign governments and companies.
“China’s theft of Americans’ intellectual property and innovations simply can’t be tolerated. We have no choice but to adopt strong laws that will defend us from these thefts and give the Chinese regime a meaningful incentive to stop their attacks and deceptions,” Nunes said when he introduced the bill last week.
Three Florida Republicans–U.S. Reps. Mario Diaz-Balart, Matt Gaetz and Ross Spano–were among the 22 cosponsors.
“For far too long, China has been ripping-off U.S. companies blindly. We must stop the gross theft and misuse of our intellectual property, and this bill is an important step towards making that happen,” said Spano. “This is not only an economic matter, but a national security matter and I will work with President Trump to stop this in its tracks.”
The bill was sent to the U.S. House Financial Services, the Judiciary and the Education and Labor Committees. So far, there is no companion measure over in the U.S. Senate.
Reach Kevin Derby at [email protected].
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