The Senate has blocked an attempt by Sen. Marco Rubio, R-Fla., to bar the federal retirement plan from investing in funds that invest in Chinese firms.
On Thursday, the Senate failed to adopt Rubio’s plan, which was offered as an amendment to the annual defense bill.
Rubio tweeted: “Our federal retirement system is investing millions in Chinese companies that make weapons designed to kill Americans serving in the military I tried to end that today but 42 senators blocked it because we still have too many people who like to talk tough on China but never do anything about it.”
A statement from Rubio’s office said: “The Federal Retirement Thrift Investment Board is steering retirement savings of military servicemembers and federal workers to funds that invest in Chinese companies, including companies that support the People’s Liberation Army.
“Despite bipartisan, majority support, including from Sens. Jeanne Shaheen D-N.H., Joni Ernst, R-Iowa, and Dan Sullivan, R-Alaska, the Senate failed to adopt Rubio’s amendment to the annual defense bill that would have banned those investments.”
And Rubio added: “The Senate had a chance to prevent China from benefiting from our military service members and federal workers’ retirement funds. Instead, it allowed pressure from Wall Street and other special interests to block this common-sense amendment. There is strong bipartisan support for this proposal, and I will continue to work with my colleagues to stop federal retirement funds from benefiting the Chinese Communist Party.”
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