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House to Mark Up Surprisingly Bipartisan Bill to Counter China’s Shell Companies

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House to Mark Up Surprisingly Bipartisan Bill to Counter China’s Shell Companies

Source: AP Photo/Gregorio Borgia

The House Financial Services Committee takes a break on Tuesday from baiting President Trump to mark up a surprisingly bipartisan bill to counter aggressive Chinese shell companies. I say surprisingly because Financial Services Chairwoman Maxine Waters (D-CA), and the Democrat House more generally, has otherwise shown interest only in attacking President Trump.

The Financial Services hearing will mark up the Corporate Transparency Act of 2019. The lead sponsor of that bipartisan bill is Emanuel Cleaver (D-NY), along with Steve Stivers (R-OH) and Carolyn Maloney (D-NY) as co-sponsors. The bill modernizes U.S. anti-money laundering laws and authorizes U.S. law enforcement agencies to investigate who is establishing these rogue Chinese shell companies.

The House is acting because Chinese shell companies have been so aggressive that their conduct seems to be in preparation for outright war against the United States.

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