Congress demands annual audit of American money flowing to China
S. 1360 — Protecting American Capital Act of 2025 · Filed by Rick Scott (R-FL) · 1 cosponsor · Introduced Apr 8, 2025 · Referred to committee
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What it does
This bill requires the Treasury Secretary to publish an annual report detailing how much money Americans and American institutions (including state pension funds) are investing in Chinese companies and sectors. The report must identify major investors, sanctioned Chinese entities receiving U.S. capital, and Chinese companies receiving over $100 million annually from American investors. The first report covers investments back to 2008; subsequent reports cover one-year periods.
Why we flagged it
The bill's sole operative mechanism is requiring annual public reporting on U.S. portfolio investment flows to China. It imposes no restrictions, subsidies, or carve-outs—only a disclosure obligation on the Treasury Department.
What the text implies
- Retroactive reporting requirement (back to 2008) may require Treasury to reconstruct historical investment data not currently compiled in a single database, creating significant administrative burden.
- Naming of individual U.S. investors or funds making >2% of annual China investments could expose pension funds and asset managers to political pressure or reputational targeting based on investment decisions.
- Identification of sanctioned Chinese entities receiving U.S. capital may create pressure for secondary sanctions or restrictions on U.S. investors, potentially chilling lawful investment activity.
- State pension funds identified as major China investors may face state-level political backlash or legislative restrictions, creating federalism tensions.
Section numbers refer to the bill text the analysis read — linked under Primary records below.
Who it affects
The bill creates transparency about capital flows to China without restricting investment rights or imposing new costs on citizens. Public disclosure of where American retirement savings and institutional capital are flowing—especially to sanctioned entities—strengthens democratic accountability and allows citizens and policymakers to make informed decisions about capital allocation.
Named in the bill
U.S. Treasury Department, U.S. Congress, State pension funds, Chinese entities, People's Republic of China, U.S. persons (citizens, permanent residents, U.S. entities)
Where it stands
1 cosponsor: 1 Democrats.
- Apr 8, 2025 — Introduced · Congress.gov: “Introduced in Senate”
- Apr 8, 2025 — Referred to Senate Committee on Banking, Housing, and Urban Affairs · Congress.gov: “Read twice and referred to the Committee on Banking, Housing, and Urban Affairs”
Dates and quoted wording are Congress.gov's action record; the timeline shows status changes, not every procedural step.
How this was measured
Analysis — Quorum's AI read the bill text published by Congress.gov (2,070 characters) on Aug 19, 2026. Section numbers in the findings refer to that text, linked below; transparency and hidden-provision scores are compared against the median of 16,222 analysed bills.
Status and sponsors — Congress.gov's bill record — actions, committee referrals and cosponsors — loaded nightly. The timeline shows status changes, not every procedural action.
As of — page rendered 2026-10-20.
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