threat to the peace and security of the Western 
Pacific area and of grave concern to the United 
States’’; 
(E) ‘‘to provide Taiwan with arms of a de-
fensive character’’; and 
(F) ‘‘to maintain the capacity of the 
United States to resist any resort to force or 
other forms of coercion that would jeopardize 
the security, or the social or economic system, 
of the people on Taiwan’’. 
(4) Since the election of President Tsai Ing-wen 
as President of Taiwan in 2016, the Chinese Com-
munist Party has employed a variety of coercive 
military and nonmilitary tactics short of armed con-
flict in its efforts to exert existential pressure on 
Taiwan, including through diplomatic isolation, re-
stricting 
tourism, 
cyberattacks, 
spreading 
disinformation, and controlling the ability of Taiwan 
to purchase COVID–19 vaccines from other coun-
tries. 
(5) In 2021, there was a notable increase in 
military provocations by the People’s Liberation 
Army against Taiwan, including increased flights of 
military aircraft within Taiwan’s air defense identi-
fication zone, holding military exercises in the vicin-
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ity of Taiwan’s controlled waters, and performing 
live-fire exercises in the South China Sea. 
(6) In March 2021, then Commander of the 
United States Indo-Pacific Command Admiral Philip 
Davidson testified that the threat of a military inva-
sion of Taiwan by the People’s Liberation Army ‘‘is 
manifest during this decade, in fact in the next six 
years’’. 
(7) In March 2021, then Commander of the 
United States Pacific Fleet Admiral John Aquilino 
testified that the threat of a military invasion by the 
People’s Liberation Army of Taiwan is ‘‘much closer 
to us than most think’’ and could materialize well 
before 2035. 
(8) In October 2021, President Joseph R. 
Biden publicly affirmed that the United States 
would come to the defense of Taiwan, saying, ‘‘yes, 
we have a commitment to do that’’. 
(9) In addition to military power, economic and 
financial instruments of United States power and 
their potential use can have an important deterrent 
effect on the actions of other countries. 
SEC. 3. SENSE OF CONGRESS. 
It is the sense of Congress that— 
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(1) it is in the interests of the United States to 
maintain a free and open Indo-Pacific region, with 
peace and stability in the Taiwan Strait as a critical 
component; 
(2) efforts by the Chinese Communist Party to 
unilaterally determine the future of Taiwan through 
non-peaceful means, including threats and the direct 
use of force, military coercion, economic boycotts or 
embargoes, and efforts to internationally isolate or 
annex Taiwan— 
(A) directly undermine the spirit, intent, 
and purpose of the Taiwan Relations Act (22 
U.S.C. 3301 et seq.); 
(B) undermine peace and stability in the 
Taiwan Strait; 
(C) limit a free and open Indo-Pacific re-
gion; and 
(D) are of grave concern to the Govern-
ment of the United States; 
(3) the initiation of a military invasion of Tai-
wan by the People’s Liberation Army would— 
(A) disrupt the peace and stability of the 
region and threaten the peace and stability of 
the entire globe; and 
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(B) undermine the political, security, and 
economic interests of the United States; and 
(4) as an important deterrent measure against 
a military invasion of Taiwan, the Chinese Com-
munist Party must understand that initiating such 
an invasion will result in catastrophic economic and 
financial consequences for the People’s Republic of 
China. 
SEC. 4. STATEMENT OF POLICY. 
The policy of the Government of the United States 
on Taiwan is guided by the Taiwan Relations Act (22 
U.S.C. 3301 et seq.), the United States-People’s Republic 
of China joint communique´s concluded in 1972, 1978, and 
1982, and the Six Assurances that President Ronald 
Reagan communicated to Taiwan in 1982, but in the event 
of the initiation of a military invasion of Taiwan by the 
People’s Liberation Army, it is the policy of the United 
States— 
(1) to use and deploy all economic, commercial, 
and financial instruments and levers of power, in-
cluding— 
(A) the imposition of sanctions with re-
spect to members of the Chinese Communist 
Party and financial institutions; 
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(B) prohibiting the listing or trading of the 
securities of Chinese entities on United States 
securities exchanges; 
(C) prohibiting investments by United 
States financial institutions in economic sectors 
of the People’s Republic of China; and 
(D) prohibiting the importation of certain 
goods mined, produced, or manufactured in the 
People’s Republic of China into the United 
States; and 
(2) to work in close coordination with allies and 
partners of the United States to encourage those al-
lies and partners to undertake similar economic, 
commercial, and financial actions against the Chi-
nese Communist Party. 
SEC. 5. DEFINITIONS. 
In this Act: 
(1) ACCOUNT; CORRESPONDENT ACCOUNT; PAY-
ABLE-THROUGH
ACCOUNT.—The terms ‘‘account’’, 
‘‘correspondent account’’, and ‘‘payable-through ac-
count’’ have the meanings given those terms in sec-
tion 5318A of title 31, United States Code. 
(2) ADMISSION; ADMITTED; ALIEN.—The terms 
‘‘admission’’, ‘‘admitted’’, and ‘‘alien’’ have the 
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meanings given those terms in section 101 of the 
Immigration and Nationality Act (8 U.S.C. 1101). 
(3) APPROPRIATE
CONGRESSIONAL
COMMIT-
TEES.—The term ‘‘appropriate congressional com-
mittees’’ means— 
(A) the Committee on Foreign Relations, 
the Committee on Armed Services, and the 
Committee on Banking, Housing, and Urban 
Affairs of the Senate; and 
(B) the Committee on Foreign Affairs, the 
Committee on Armed Services, and the Com-
mittee on Financial Services of the House of 
Representatives. 
(4) COVERED
DETERMINATION.—The term 
‘‘covered determination’’ has the meaning given that 
term in section 6(a). 
(5) FINANCIAL
INSTITUTION.—The term ‘‘fi-
nancial institution’’ means a financial institution 
specified in subparagraph (A), (B), (C), (D), (E), 
(F), (G), (H), (I), (J), (M), or (Y) of section 
5312(a)(2) of title 31, United States Code. 
(6) FOREIGN
FINANCIAL
INSTITUTION.—The 
term ‘‘foreign financial institution’’ has the meaning 
given that term in regulations prescribed by the Sec-
retary of the Treasury. 
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(7) FOREIGN PERSON.—The term ‘‘foreign per-
son’’ means an individual or entity that is not a 
United States person. 
(8) KNOWINGLY.—The term ‘‘knowingly’’ with 
respect to conduct, a circumstance, or a result, 
means that a person had actual knowledge, or 
should have known, of the conduct, the cir-
cumstance, or the result. 
(9) MILITARY INVASION.—The term ‘‘military 
invasion’’ includes— 
(A) an amphibious landing or assault; 
(B) an airborne operation or air assault; 
(C) an aerial bombardment or blockade; 
(D) missile attacks, including rockets, bal-
listic missiles, cruise missiles, and hypersonic 
missiles; and 
(E) a naval bombardment or blockade. 
(10) UNITED
STATES
PERSON.—The term 
‘‘United States person’’ means— 
(A) a United States citizen or an alien law-
fully admitted for permanent residence to the 
United States; or 
(B) an entity organized under the laws of 
the United States or any jurisdiction within the 
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United States, including a foreign branch of 
such an entity. 
SEC. 6. DETERMINATION OF THE INITIATION OF A MILI-
TARY INVASION BY THE PEOPLE’S LIBERA-
TION ARMY OR ITS PROXIES. 
(a) COVERED DETERMINATION DEFINED.—In this 
Act, the term ‘‘covered determination’’ means— 
(1) a determination by the President, not later 
than 24 hours after a military invasion of Taiwan by 
the People’s Liberation Army or any of its proxies, 
that such an invasion has occurred; or 
(2) the enactment of a joint resolution pursuant 
to subsection (b). 
(b) DETERMINATION BY JOINT RESOLUTION.— 
(1) COVERED JOINT RESOLUTION DEFINED.— 
In this subsection, the term ‘‘covered joint resolu-
tion’’ means only a joint resolution of either House 
of Congress the sole matter after the resolving 
clause of which is as follows: ‘‘That Congress deter-
mines that the People’s Liberation Army or one of 
its proxies initiated a military invasion of Taiwan on 
lll.’’, with the blank space being filled with the 
appropriate date. 
(2) INTRODUCTION.—A covered joint resolution 
may be introduced— 
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(A) in the House of Representatives, by 
the majority leader (or the majority leader’s 
designee) or the minority leader (or the minor-
ity leader’s designee); and 
(B) in the Senate, by the majority leader 
(or the majority leader’s designee) or the mi-
nority leader (or the minority leader’s des-
ignee). 
(3) FLOOR CONSIDERATION IN HOUSE OF REP-
RESENTATIVES.— 
(A) DISCHARGE FROM COMMITTEE.—If a 
committee of the House of Representatives to 
which a covered joint resolution has been re-
ferred has not reported the joint resolution 
within 2 calendar days after the date of referral 
of the joint resolution, the committee shall be 
discharged from further consideration of the 
joint resolution and the joint resolution shall be 
placed on the appropriate calendar. 
(B) MOVING TO CONSIDERATION.—At any 
time after a covered joint resolution has been 
placed on the appropriate calendar, it is in 
order for the sponsor of the joint resolution (or 
a designee) to move for the consideration of 
that joint resolution. 
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(C) POINTS
OF
ORDER; MOTIONS.—All 
points of order against the covered joint resolu-
tion and its consideration are waived. If the mo-
tion under subparagraph (B) is agreed to, the 
joint resolution shall remain the unfinished 
business of the House until disposed of, except 
as provided in paragraph (5). 
(D) NO
AMENDMENTS.—A covered joint 
resolution shall not be subject to amendment in 
the House of Representatives. 
(E) DEBATE.—General debate on a cov-
ered joint resolution shall not exceed 4 hours, 
which shall be equally divided and controlled by 
the sponsor of the joint resolution (or a des-
ignee) and an opponent. 
(F) FINAL PASSAGE.—At the conclusion of 
debate, the previous question shall be consid-
ered as ordered on the resolution, and the 
House of Representatives shall vote on final 
passage without intervening motion. 
(4) CONSIDERATION IN THE SENATE.— 
(A) REPORTING AND DISCHARGE.—If the 
committee of the Senate to which a covered 
joint resolution was referred has not reported 
the joint resolution within 2 calendar days after 
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the date of referral of the joint resolution, that 
committee shall be discharged from further con-
sideration of the joint resolution and the joint 
resolution shall be placed on the appropriate 
calendar. 
(B) PROCEEDING
TO
CONSIDERATION.— 
Notwithstanding Rule XXII of the Standing 
Rules of the Senate, it is in order at any time 
after the committee of the Senate to which a 
covered joint resolution was referred reports the 
joint resolution to the Senate or has been dis-
charged from consideration of the joint resolu-
tion (even though a previous motion to the 
same effect has been disagreed to) to move to 
proceed to the consideration of the joint resolu-
tion, and all points of order against the joint 
resolution (and against consideration of the 
joint resolution) are waived. The motion to pro-
ceed is not debatable. The motion is not subject 
to a motion to postpone. 
(C) NO AMENDMENTS.—An amendment to 
a covered joint resolution, or a motion to post-
pone, or a motion to proceed to the consider-
ation of other business, or a motion to recom-
mit a covered joint resolution, is not in order. 
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(D) CONSIDERATION.— 
(i) LIMITATION ON DEBATE.—Consid-
eration in the Senate of a covered joint 
resolution shall be limited to not more than 
10 hours, which shall be equally divided 
between, and controlled by, the majority 
leader and the minority leader, or by their 
designees. 
(ii) VOTE ON ADOPTION.—Whenever 
all the time for debate on a covered joint 
resolution has been used or yielded back, 
the vote on the adoption of the resolution 
shall occur without any intervening motion 
or amendment, except that a single 
quorum call at the conclusion of the debate 
if requested in accordance with the Rules 
of the Senate may occur immediately be-
fore such vote. 
(E) RULINGS OF THE CHAIR ON PROCE-
DURE.—Appeals from the decisions of the Chair 
relating to the application of the rules of the 
Senate, as the case may be, to the procedure re-
lating to a covered joint resolution shall be de-
cided without debate. 
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(F) 
CONSIDERATION
OF
VETO
MES-
SAGES.—Debate in the Senate of any veto mes-
sage with respect to a covered joint resolution, 
including all debatable motions and appeals in 
connection with the joint resolution, shall be 
limited to 10 hours, to be equally divided be-
tween, and controlled by, the majority leader 
and the minority leader or their designees. 
(5) RULES RELATING TO SENATE AND HOUSE 
OF REPRESENTATIVES.— 
(A) TREATMENT OF SENATE JOINT RESO-
LUTION
IN
HOUSE.—In the House of Rep-
resentatives, the following procedures shall 
apply to a covered joint resolution received from 
the Senate (unless the House has already 
passed a joint resolution relating to the same 
proposed action): 
(i) The joint resolution shall be re-
ferred to the appropriate committees. 
(ii) If a committee to which a joint 
resolution has been referred has not re-
ported the joint resolution within 2 cal-
endar days after the date of referral, that 
committee shall be discharged from further 
consideration of the joint resolution. 
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(iii) Beginning on the third legislative 
day after the committee to which a joint 
resolution has been referred reports the 
joint resolution to the House or has been 
discharged 
from 
further 
consideration 
thereof, it shall be in order to move to pro-
ceed to consider the joint resolution in the 
House. All points of order against the mo-
tion are waived. Such a motion shall not be 
in order after the House has disposed of a 
motion to proceed on the joint resolution. 
The previous question shall be considered 
as ordered on the motion to its adoption 
without intervening motion. The motion 
shall not be debatable. A motion to recon-
sider the vote by which the motion is dis-
posed of shall not be in order. 
(iv) The joint resolution shall be con-
sidered as read. All points of order against 
the joint resolution and against its consid-
eration are waived. The previous question 
shall be considered as ordered on the joint 
resolution to final passage without inter-
vening motion except 4 hours of debate 
equally divided and controlled by the spon-
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sor of the joint resolution (or a designee) 
and an opponent. A motion to reconsider 
the vote on passage of the joint resolution 
shall not be in order. 
(B) TREATMENT OF HOUSE JOINT RESO-
LUTION IN SENATE.— 
(i) RECEIPT
BEFORE
PASSAGE.—If, 
before the passage by the Senate of a cov-
ered joint resolution, the Senate receives 
an identical joint resolution from the 
House of Representatives, the following 
procedures shall apply: 
(I) That joint resolution shall not 
be referred to a committee. 
(II) With respect to that joint 
resolution— 
(aa) the procedure in the 
Senate shall be the same as if no 
joint resolution had been received 
from the House of Representa-
tives; but 
(bb) the vote on passage 
shall be on the joint resolution 
from the House of Representa-
tives. 
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(ii) RECEIPT
AFTER
PASSAGE.—If, 
following passage of a covered joint resolu-
tion in the Senate, the Senate receives an 
identical joint resolution from the House of 
Representatives, that joint resolution shall 
be placed on the appropriate Senate cal-
endar. 
(iii) NO COMPANION MEASURE.—If a 
covered joint resolution is received from 
the House, and no companion joint resolu-
tion has been introduced in the Senate, the 
Senate procedures under this subsection 
shall apply to the House joint resolution. 
(C) APPLICATION
TO
REVENUE
MEAS-
URES.—The provisions of this paragraph shall 
not apply in the House of Representatives to a 
covered joint resolution that is a revenue meas-
ure. 
(6) RULES
OF
HOUSE
OF
REPRESENTATIVES 
AND SENATE.—This subsection is enacted by Con-
gress— 
(A) as an exercise of the rulemaking power 
of the Senate and the House of Representa-
tives, respectively, and as such is deemed a part 
of the rules of each House, respectively, and su-
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persedes other rules only to the extent that it 
is inconsistent with such rules; and 
(B) with full recognition of the constitu-
tional right of either House to change the rules 
(so far as relating to the procedure of that 
House) at any time, in the same manner, and 
to the same extent as in the case of any other 
rule of that House. 
SEC. 7. IMPOSITION OF SANCTIONS WITH RESPECT TO 
MEMBERS OF THE CHINESE COMMUNIST 
PARTY. 
(a) IMPOSITION OF SANCTIONS.—Not later than 3 
days after a covered determination is made, the President 
shall— 
(1) impose the sanctions described in subsection 
(b) with respect to any foreign person the President 
determines is a member of the Chinese Communist 
Party, including any branch of the armed forces or 
intelligence agencies of the Chinese Communist 
Party; and 
(2) impose the sanctions described in subsection 
(c) with respect to— 
(A) any foreign person identified under 
paragraph (1); 
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(B) any successor entity to that foreign 
person; and 
(C) any foreign person that is a parent or 
subsidiary of that foreign person. 
(b) SANCTIONS
DESCRIBED.—The sanctions de-
scribed in this subsection are the following: 
(1) BLOCKING OF PROPERTY.— 
(A) IN GENERAL.—The President shall ex-
ercise all of the powers granted by the Inter-
national Emergency Economic Powers Act (50 
U.S.C. 1701 et seq.) to block and prohibit all 
transactions in all property and interests in 
property of a foreign person described in sub-
section (a)(1) if such property and interests in 
property are in the United States, come within 
the United States, or are or come within the 
possession or control of a United States person. 
(B) INAPPLICABILITY OF NATIONAL EMER-
GENCY
REQUIREMENT.—The requirements of 
section 202 of the International Emergency 
Economic Powers Act (50 U.S.C. 1701) shall 
not apply for purposes of this section. 
(2) INCLUSION ON ENTITY LIST.—The Presi-
dent shall include a foreign person described in sub-
section (a)(1) on the entity list maintained by the 
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