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Senator Tom Cotton Introduces Bill to Block Chinese Companies from Receiving Stimulus Funds

Senator Tom Cotton (R-Arkansas) introduced an amendment to the HEALS Act that would prohibit any stimulus cash from supporting any entity that is under Chinese ownership, control, or influence, New York Post reports.

The legislation also mandates that the Secretary of the Treasury retrieve CARES Act funds provided earlier this year to Chinese firms after reports that Chinese-owned companies received millions of dollars PPP funding.

“China unleashed this plague on the world and they must be held accountable — not given a cash bonus by the American government,” Cotton said in a statement.

“My amendment would ensure all coronavirus relief funds stay right here in the United States where they’re needed the most,” he continued.

According to a New York Times report published Sunday, up to $419 million of PPP funding went to more than 125 companies that Chinese entities own or are invested in. At least 32 Chinese companies pocketed loans worth more than $1 million.

The Chinese Communist government has come under fire by the U.S over the contagious virus, which originated in Wuhan in late 2019, including allegations it tried to cover-up and destroy evidence of the earliest cases.