HR 6598
Sos act act
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- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill, the Secure Our Systems Against China’s Tactics Act, aims to protect U.S. national security by providing government guarantees to investors who make investments in businesses vulnerable to Chinese acquisition. Specifically, the Treasury Secretary can guarantee up to 50% of an investment made during the COVID-19 emergency if the business has suffered COVID-19 related losses, advances a national security interest, and is at risk of being purchased by a Chinese entity. The bill directs funding from the CARES Act and establishes criteria for awarding these guarantees in consultation with defense and commerce officials.
Sponsors
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Primary sponsor
Mark E. Green
Cosponsors
Alexander X. Mooney
Jim Hagedorn
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