Turn OFF THE TAP Act Turn Off Federal Funding of Threatening Entities that Thwart American Prosperity Act
Impact
If passed, HB749 would have significant implications for how federal funds are allocated and managed. The bill mandates that no federal agency can enter into contracts with or provide funding to covered entities that are associated with countries or organizations that challenge U.S. interests, particularly those tied to China's military industrial complex. As such, it would alter existing federal contract strategies and complicate dealings with any entities on the aforementioned lists.
Summary
House Bill 749, also known as the 'Turn OFF THE TAP Act', aims to prohibit federal funding to certain entities that are subject to sanctions imposed by the United States. This includes entities listed on various sanction lists maintained by government agencies, such as the Office of Foreign Assets Control and the Bureau of Industry and Security. The main intention of the bill is to prevent taxpayer money from supporting organizations that are seen as a threat to American prosperity and national security.
Contention
The bill has drawn criticism from some quarters who argue that it could limit engagement with legitimate firms that may be affiliated with sanctioned entities due to shared ownership or business relationships. There are concerns regarding the broad definitions used for 'covered entities', which could inadvertently penalize businesses that do not threaten national security. The dialogue surrounding HB749 also highlights the ongoing tensions in U.S.-China relations, particularly concerning trade and technology, which are often contentious in legislative discussions.
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