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H.R. 1156, China Financial Threat Mitigation Act of 2023 (CBO Report for Congress)

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Congress 118th
Date Requested Feb. 28, 2023
Requested By House Committee on Financial Services
Date Sent March 16, 2023
Description:
H.R. 1156 would require the Secretary of the Treasury, within one year of enactment, to study and report on the financial exposure of the United States and the global economy to changes in China’s financial sector. The bill also would direct the Secretary to consult with the Board of Governors of the Federal Reserve System, the Securities and Exchange Commission, the Commodity Futures Trading Commission, and the Department of State for the study. Using information about the cost of similar requirements, CBO estimates that implementing H.R. 1156 would cost federal agencies about $1 million over the 2023-2024 period. Such spending would be subject to the availability of appropriated funds.

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