No American Tax Dollars To CCP Act

No American Tax Dollars To CCP Act

This bill expands prohibitions under the clean vehicle tax credit on battery components manufactured or assembled by a foreign entity of concern to

• a domestic corporation that is controlled by, operated by, or under the substantial influence of a foreign entity of concern (e.g., a state-backed Chinese company);
• a domestic corporation that relies on technology provided through a licensing agreement with a foreign entity of concern;
• a foreign corporation organized outside of China, Russia, North Korea, and Iran but that is owned more than 20% by 1 or more foreign entities of concern; or
• any member or partner of a joint venture or partnership in which at least one other partner or member is a foreign entity of concern.

The bill also renders ineligible for the qualifying advanced energy project tax credit any project that incorporates or utilizes technology provided through a licensing agreement with the foreign entities of concern described by this bill.

Bill 118 hr 2951, also known as the No American Tax Dollars To CCP Act, is a piece of legislation currently being considered in the US Congress. The purpose of this bill is to prohibit the use of American taxpayer dollars to fund any activities or programs that benefit the Chinese Communist Party (CCP).

The bill aims to prevent the CCP from receiving financial support from the United States government, in order to protect American interests and national security. It specifically targets any funds that could potentially be used to support the CCP's oppressive policies, human rights abuses, or military aggression.

If passed, the No American Tax Dollars To CCP Act would require strict oversight and accountability measures to ensure that taxpayer money is not inadvertently funneled to the CCP. It would also impose penalties on individuals or organizations found to be in violation of the law. Supporters of the bill argue that it is necessary to safeguard American values and prevent the CCP from using US funds to further its own agenda. Critics, however, raise concerns about the potential impact on diplomatic relations between the two countries and the broader implications for international cooperation. Overall, the No American Tax Dollars To CCP Act represents a significant effort to address the complex and contentious issue of US-China relations, and is likely to spark debate and discussion among lawmakers and the public.