Members of the House China Task released its final legislative report, which includes an assessment of the growing threats posed by China, policies that strengthen America’s supply chains and economy, and opportunities to expand agriculture.
The task force, which launched in May, met with 125 stakeholders, including policy experts, business leaders, other Members of Congress, and current and former administration officials from both sides of the aisle. The report includes more than 400 recommendations, including 180 legislative fixes, of which one-third have already passed either the House or the Senate.
“China represents an ever-evolving challenge for the United States, particularly in the wake of the COVID-19 pandemic and as technology and our economies modernize into the digital age. Since May, the China Task Force has worked tirelessly to develop and promote legislative solutions to confront those challenges. As the sole member from the Ways and Means Committee on the China Task Force, I worked extensively to include policy measures that bolster America’s standing in the global economy, strengthen our relationship with our allies, reform the WTO, and advance our trade agenda, particularly for our farmers and manufacturers in Illinois. This comprehensive report outlines a roadmap to strengthen American competitiveness,” Rep. Darin LaHood (R-IL), who heads up the task force, said.
Among the 400 recommendations was the passage of the Bringing Back Americans Jobs Through Intellectual Property Repatriation Act, sponsored by LaHood. The task force also recommends pursuing trade policies that deter and protect against IP theft and provide more protections for American companies operating abroad. Also, the task force suggests that Congress consider legislation regarding securing America’s supply chain, prioritizing national security, and critical medical supplies, including targeted tax incentives to accelerate research and development (R&D).
“China is the greatest economic and security threat we face, and Republicans are committed to bolstering America’s economy so that current and future generations are prepared for the challenges ahead. As this report lays out, we can use our tax and trade tools to position America as a force for good in the world while creating jobs here at home,” Rep. Kevin Brady (R-TX), the top Republican on the House Ways and Means Committee, said. “Ways and Means Republicans, led by Rep. Darin LaHood, have worked well with the Task Force to develop recommendations aimed at enhancing our competitiveness through smart tax incentives that will make America medically independent and establishing pro-growth tax policies that will bring back home more research, development, and manufacturing.”