Senators Dave McCormick and Jeanne Shaheen introduced the Fortifying United States Markets Against PRC Military Escalation Act of 2025.
Support legislation to strengthen U.S. financial market readiness in the event of escalation with the People's Republic of China.
Occurrences
S.3447 | Fortifying United States Markets Against PRC Military Escalation Act of 2025 Latest Action: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Evidence
Senators Dave McCormick and John Fetterman introduced the PRC Broker-Dealers and Investment Advisers Moratorium Act to protect U.S. markets, consumers, and national economic security. The legislation aims to address concerns about the unequal regulatory landscape between the U.S. and the People's Republic of China (PRC), which exposes U.S. financial markets and consumer data to risks from Chinese Communist Party (CCP)-linked firms.
Senator Dave McCormick introduced the Joint Task Force to Counter Illicit Synthetic Narcotics Act of 2025 to combat the fentanyl crisis. The legislation aims to improve federal coordination to address the role of the People's Republic of China in producing fentanyl precursors and laundering drug money, thereby protecting American lives.
Senator Dave McCormick achieved a significant milestone with two bills passing the Senate Foreign Relations Committee. One of the bills, the Taiwan Non-Discrimination Act, directs the U.S. Governor of the International Monetary Fund (IMF) to advocate for Taiwan’s inclusion as a member, countering China's influence and supporting Taiwan's participation in the global economy.
Senator McCormick sponsored the PRC Broker-Dealers and Investment Advisers Moratorium Act (S.2552), which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs on September 18, 2025.
Senator McCormick co-sponsored the China Exchange Rate Transparency Act of 2025 (S.2146), which was placed on the Senate Legislative Calendar under General Orders on December 9, 2025.
Senators Dave McCormick and Jeanne Shaheen introduced the Fortifying United States Markets Against PRC Military Escalation Act of 2025, which would establish an Advisory Committee at the Financial Stability Oversight Council (FSOC) to analyze, study, and develop recommendations to strengthen U.S. financial market readiness in the event of escalation with the People's Republic of China.
Assessments
Senator McCormick took multiple legislative actions in line with his promise to support legislation strengthening U.S. financial market readiness against escalation with China. This included sponsoring and co-sponsoring relevant bills, introducing focused acts related to financial security, China-related transparency, and securing U.S. economic interests. However, the evidence does not confirm passage of substantive legislation into law affecting market readiness; most efforts were bills introduced, sponsored, or advanced to committee or calendar placement. Therefore, while clear and sustained effort is demonstrated, the full delivery of the campaign promise (i.e., tangible legislative outcomes enacted) is not present.
Multiple pieces of evidence show that Senator David McCormick introduced and sponsored several bills aimed at strengthening U.S. financial market readiness regarding escalation with the People's Republic of China. These legislative efforts directly target the claim's objectives, including establishing advisory committees, targeting PRC-linked financial firms, and promoting transparency. However, there is no evidence that these bills became law or enacted the promised legislative outcome, only that serious attempts were made through proposals, sponsorships, and committee activity.