Senator Marco Rubio (R-FL) was disappointed in the Senate’s decision to block his amendment which would’ve withheld retirement funds of servicemembers and federal employees (The Federal Retirement Thrift Investment Board – FRTIB) that invest in companies that support the Chinese military (People’s Liberation Army).
Despite garnering bipartisan support from Senators such as Jeanne Shaheen (D-NH), Joni Ernst (R-IA), and Dan Sullivan (R-AK), the upper chamber denied the adoption of Sen. Rubio’s amendment.
Before the vote on the amendment, Sen. Rubio provided a “straightforward” rationale for the adoption.
“It’s pretty straightforward. The Federal Thrift Savings Plan is the largest defined contribution plan in the world. It has 22 China-only funds, every single one of them has money going towards companies that are sanctioned, that are on the entities list. Companies that are responsible for the human rights violations against Uyghurs. Companies that our own government has said are helping the Chinese build their military, Chinese-sponsored companies.
Rubio continued, “And so this amendment basically is geared towards that – it tells us TSP – the Thrift Savings Plan Board that they can no longer invest your money, the money of members of Congress, members of the military, federal employees! Federal employees' retirement money is being invested in companies that are undermining American national security, according to our own government, we’re investing in those.”
The Florida Senator concluded, “Think about the irony: you’re a member of the military and your retirement money is being invested in companies that are building missiles designed to blow up the ship that you serve on…And it’s money – your money, the investment money of federal employees, being used to invest in companies that our own government has placed on lists for human rights violations and posing a threat to the national security of the country.”
Naturally, Rubio provided his frustration with the Senate following his amendment not being adopted.
“The Senate had a chance to prevent China from benefiting from our military service members and federal workers’ retirement funds. Instead, it allowed pressure from Wall Street and other special interests to block this common-sense amendment. There is strong bipartisan support for this proposal, and I will continue to work with my colleagues to stop federal retirement funds from benefitting the Chinese Communist Party,” said Rubio.
The senior senator has been very vocal against the Chinese Communist Party and has introduced a flurry of legislation combating it in the 118th Congress.
