Gaetz: Blocking Bailouts to Companies Controlled by China ‘So Obvious I Can’t Even Believe It’s Not the Law Already’

May 27, 2020
In The News

Tuesday, Rep. Matt Gaetz (R-FL) argued that given the origin of the coronavirus was of Mainland China, and allegedly could have been thwarted by the communist Chinese government had they been more transparent, any federal dollars allocated for bailout purposes should not go to any company controlled by the Chinese government.

“Radisson Hotels, AMC movie theaters, even the Waldorf Astoria in New York are controlled by China, in essence, and I think we ought to restore every American worker and American small business before borrowing money from China so that we can then give it to China to then pay China back with interest after the Chinese virus,” he said. “That seems like a foolish thing that a great nation would never do. I’ve introduced legislation to block bailouts to corporations that are controlled by China. It’s so obvious I can’t even believe it’s not the law already.

Gaetz pointed to the absurdity of borrowing money from China to bail out companies controlled by China put in a bad situation because of China.

“Look, China has a lot of influence, and the companies that seek Chinese investment also have that influence,” Gaetz added. “But this is a time that we can actually put America first, the needs of our people and our businesses. This should be the easiest time in the world to ensure that we are making reinvestment in the American economy and that we are not the world’s fools by borrowing money from a country in the bond market, recycling it back to them and then charging the next generation of Americans interest on that money. We cannot do that. Congress should include my No China Act in the ultimate relief package.”