# Taiwan Conflict Deterrence Act of 2022

This bill is designed to put financial pressure on top Chinese government officials if China threatens or attacks Taiwan. It does this by requiring the U.S. Treasury Department to investigate and publicly expose the money and bank accounts of senior Chinese Communist Party leaders, then potentially freezing those officials' access to American financial services.

Here's how it works in practice: If the President declares that China poses a threat to Taiwan, the Treasury Secretary has 90 days to produce a detailed report identifying at least ten high-ranking Chinese officials—including members of China's top leadership bodies—and revealing how much money they have stashed in banks, where that money is held, and which financial institutions are managing their accounts. The report would be published publicly in multiple languages, including English and Chinese, so the information becomes widely known. The Treasury would also brief Congress on how these officials obtained their wealth, including whether they used corrupt or illegal means. This public exposure is meant to embarrass these officials and make it harder for them to hide their assets.

Beyond just exposing the money, the bill gives the Treasury Secretary power to ban U.S. banks and financial institutions from doing business with these officials and their immediate family members (spouses, children, parents, siblings, and in-laws). This means these officials couldn't use American banks, couldn't access U.S. financial services, and couldn't move money through the American financial system. The restrictions would last up to 25 years unless the President determines the China threat has ended or decides to waive the restrictions for national security reasons.

For most Americans, this bill wouldn't have a direct impact on daily life. It's primarily a tool aimed at deterring Chinese aggression by making it costly for China's leadership to pursue military action against Taiwan—the idea being that top officials would face serious financial consequences if they order such an attack. The bill essentially weaponizes financial transparency and banking restrictions as a way to discourage conflict.

Taiwan Conflict Deterrence Act of 2022

Hill, J. French

Taiwan Conflict Deterrence Act of 2022 This bill requires additional reporting regarding the domestic and foreign financial activity of specified Chinese officials. Specifically, the bill requires the Department of the Treasury, upon a determination by the President that a threat to the interests of the United States exists resulting from actions by China, to (1) report to Congress on funds held by certain members of the Chinese Communist Party, including the total amount of funds, a description of the funds, and a list of related financial institutions; and (2) brief Congress on how these funds were acquired and any illicit or corrupt means employed to acquire or use the funds. The bill also allows Treasury to prohibit significant transactions between U.S. financial institutions and these individuals.