Sen. Marco Rubio (R-Fla.) announced on June 2 that President Joe Biden’s four nominees to serve on the Federal Retirement Thrift Investment Board (FRTIB) confirmed in writing their belief that Americans shouldn’t invest in Chinese firms or those of any other country that threatens U.S. national security.
“We agree that it is unfitting for Americans to invest in companies from China or elsewhere that undermine U.S. national security. Congress provided the authority to the Department of Treasury’s Office of Foreign Assets Control (OFAC) to ban any American from making such investments. We fully support OFAC’s ability to exercise its authority and we commit that any company banned by OFAC, whether based in China or elsewhere, would not be included in any TSP fund,” the nominees told Rubio and Sens. Tom Cotton (R-Ark.) and Tommy Tuberville (R-Ala.) in a June 2 letter.
