Bill to prevent TSP investment in Chinese stocks reintroduced
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A bipartisan bill to prevent the Federal Retirement Thrift Investment Board, Washington, from directing retirement savings to Chinese stocks has been reintroduced in the Senate and House.
Rep. Mike Waltz, R. Fla., introduced the Taxpayers and Savers Protection Act on Tuesday, a move preceded by Sens. Marco Rubio, R-Fla., Jeanne Shaheen, D-N.H., Todd Young, R-Ind., Rick Scott, R-Fla., and Joni Ernst, R-Iowa, who did the same on May 20.
The Taxpayers and Savers Protection Act would conditionally ban the investment of Thrift Savings Plan funds in securities listed on Chinese exchanges, according to a news release. Moreover, it would prohibit investment in issuers listed on foreign securities exchanges where the U.S. Public Company Accounting and Oversight Board has not issued an audit inspection and where the PCAOB is prevented from conducting such inspections.