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China COVID–19 Restitution Act
12/31/2022, 4:59 AM
Summary of Bill HR 4080
The bill outlines several key provisions, including the establishment of a commission to investigate the origins of the virus and determine the extent of China's responsibility. It also calls for the imposition of sanctions on Chinese officials and entities found to be complicit in the cover-up of information related to the outbreak.
Additionally, the bill seeks to provide restitution to American citizens and businesses that have been adversely affected by the pandemic, including compensation for medical expenses, lost income, and other damages. Overall, the China COVID-19 Restitution Act aims to address the economic and public health consequences of the pandemic, while also sending a strong message to the Chinese government about the importance of transparency and accountability in global health crises.
Congressional Summary of HR 4080
China COVID-19 Restitution Act
This bill requires the President to impose duties on goods and components manufactured in China and to use the collected funds to provide compensation and reimbursement for losses related to COVID-19.
From this bill's enactment until December 31, 2021, the President must impose a 10% ad valorem duty on any good manufactured in China and any component manufactured in China and incorporated in a good imported from any country. This duty shall increase by an additional 10% each calendar year after 2021.
The amounts from this duty shall go into a trust fund, which shall also include any amounts provided by China's government to provide compensation and reimbursement related to COVID-19.
Using the amounts in the trust fund, the Department of Justice shall establish and administer a program to provide compensation and reimbursement for economic and financial losses related to COVID-19, including for assistance made available by the federal government.
