A group of Republican lawmakers is advancing a new bill that would require universities, non-profit organizations and other institutions to divest from Chinese companies or risk losing their preferential tax-exempt status.
On Wednesday, the House Select Committee on Strategic Competition between the United States and the Chinese Communist Party (CCP) announced the Dump Investments in Troublesome Communist Holdings Act (DITCH Act). Chairman Mike Gallagher (R-Wis.) sponsored the bill, along with committee member Reps. John Moolenaar (R-Mich.), Rob Wittman (R-Va.), and Darin LaHood (R-Ill.), as well as Sen. Josh Hawley (R-Mo.).
