Republican Senator Tommy Tuberville is demanding that the Federal Pension fund not invest in China.
According to The Washington Free Beacon:
Sen. Tommy Tuberville (R., Ala.) introduced legislation to block billions in taxpayer funding from going to China.
The senator aims to prevent the federal Thrift Savings Plan (TSP), a retirement fund for federal workers and the military, from investing in companies connected to the Chinese military and other Chinese Communist Party operations. In 2019, TSP fund managers announced plans to invest $54 billion in an index fund with roughly 8 percent of its capital going toward Chinese companies. The TSP board put the plan on hold in May 2020, citing uncertainty in world markets caused by the coronavirus pandemic. Tuberville told the Washington Free Beacon his legislation reflects a “common sense” approach to confronting China that restricts Beijing’s access to the wallets of everyday working Americans.
“Not one dime of [our money] needs to go to anything funding the CCP or anything it intends to build against the United States of America or our troops,” Tuberville said. “This is a common-sense approach of doing what we can for military and government workers not to fund what’s going on in China. This should be bipartisan. We can fight back by not sending over money to invest in what they do.”
The Alabama Republican’s bill, introduced Tuesday, would prohibit TSP investment in companies located in China or owned by Chinese entities.
Democrats have used this tactic for some time, notable Democrat-led or run pension funds have cut ties with fossil fuel producers and gun companies.