Sen. Loeffler Brings Critical Momentum to Divest China Now Movement

Oct. 20, 2020, Fairfax, Va.—Americans for Limited Government President Rick Manning issued the following statement today in support of Sen. Kelly Loeffler’s (R-GA) action to protect Americans’ retirement accounts from risky Chinese investments. Yesterday Sen. Loeffler sent a letter to the Department of Labor requesting the federal government block human rights-abusing companies from American investment eligibility. Manning praised Sen. Loeffler, stating:

“Sen. Kelly Loeffler brings important momentum to the Divest China Now campaign aimed at divesting the more than $250 billion Americans have invested in high risk Chinese companies. Because these companies do not comply with the same transparency and oversight regulations that American companies are required to follow, no one knows their true value. Perhaps more important, many of these companies rely on child and slave labor. Some of these companies are known to participate in organ harvesting. Other are part of the Chinese military industrial complex aimed at destroying America.”

“Americans for Limited Government is part of a nationwide coalition seeking to safeguard American investors and end human rights abuses in China. The DivestChinaNow.org campaign is urging federal and state authorities to rid their public pension funds and other accounts of Chinese investments and to have the Department of Labor deem that non-transparent Chinese state-owned companies are unsuitable for 401(k) and other pension investments under Employee Retirement Insurance Investment Security Act.

“In May, that coalition succeeded in getting the Trump administration to immediately halt all investing of federal Thrift Savings Plan (TSP) assets in Chinese companies. The TSP is a retirement savings and investment plan for federal employees and members of the uniformed services.

“Loeffler’s support is a game-changer because of her background in the financial sector and Wall Street,” concluded Manning. “She brings tremendous credibility to this issue and I hope other national leaders will take notice and join us in the calls to divest from China.”

Attachments:

Chinese concentration camp survivor tells her story, Oct. 14, 2020 at https://www.youtube.com/watch?v=VQGBJqglfSM

Who is Really Funding China’s Military Buildup? Oct. 5, 2020 at https://www.youtube.com/watch?v=7Vnz1QKXJCE

Interview Availability: Please contact Americans for Limited Government at 703-383-0880 or at media@limitgov.org.

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