H.R. 3044: China Financial Threat Mitigation Act of 2021

117th Congress · introduced 2021-05-07 · International Affairs · Latest: Referred to the House Committee on Financial Services.

federal

Follow this bill, step by step

Where it came from: introduced 2021-05-07 · official record
Who proposed it: Rep. Gonzalez, Anthony [R-OH-16] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Referred to the House Committee on Financial Services. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

China Financial Threat Mitigation Act of 2021

Plain summary

China Financial Threat Mitigation Act of 2021 This bill requires U.S. representatives to certain international bodies to advocate for increased international cooperation to mitigate threats caused by the governance, opacity, or instability of financial intermediation in China. (Generally, financial intermediaries provide services, such as accounting and underwriting services, that facilitate financial transactions.) Specifically, this requirement applies to U.S. representatives to the International Monetary Fund, the Group of 20 (G20), and the Financial Stability Board (a technical body established by the G20 to coordinate the group's agenda). The bill also requires the Financial Stability Oversight Council within the Department of the Treasury to report annually to Congress on such threats.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

China Financial Threat Mitigation Act of 2021

Source: Congressional Research Service summary (Introduced in House)

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The strongest published arguments

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Gonzalez, Anthony [R-OH-16] · 15 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Ed Case (D-HI), John H. Rutherford (R-FL), Scott Franklin (R-FL), Elissa Slotkin (D-MI), Jimmy Panetta (D-CA)

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (1)

Bill: A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in House)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-117hr3044.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/117/hr>

Record fed-us-cong117-hr3044 · catalog fed-us-congress-bills-cong117 · updated 2026-11-15 by psicol fed-bills-cong117