House lawmakers passed the Countering the PRC (People's Republic of China) Malign Influence Fund Authorization Act on Monday in a vote of 351 in favor and 36 opposed.
The legislation provides for the authorization of appropriations for a fund intended to counter Chinese influence. The bill authorizes $325 million for each fiscal year from 2023 to 2027.
The House of Representatives also passed the Taiwan Conflict Deterrence Act in a voice vote. The bill requires the US Secretary of the Treasury to publish a report on financial institutions and accounts tied to senior Chinese officials and to restrict financial services for immediate family members of such officials.
Moreover, House lawmakers passed the Chinese Currency Accountability Act in a voice vote. The legislation requires US officials at the International Monetary Fund to oppose an increase in the weight of the Chinese renminbi in the Special Drawing Rights basket of the fund.
Additionally, the House of Representatives passed a bill, dubbed the Countering CCP (Chinese Communist Party) Drones Act, by voice vote. The legislation adds equipment and services produced or provided by DJI Technologies to the list of covered communications equipment under the Secure and Trust Communications Networks Act.