Legislation Seeks to Ban TSP Investments in China

The controversy of the Thrift Savings Plan investing in Chinese companies is once again being targeted in new legislation. Senator Tommy Tuberville (R-AL) has introduced the Prohibiting TSP Investment in China Act ( S. 1665 ) which would prevent TSP funds from being invested in any entity based in China. Congressman Jim Banks (R-IN) has introduced companion legislation in the House ( H.R. 3295 ). The intent of the bill is to "send a message of zero tolerance towards Chinese aggression and financial manipulation" according to a press release . Tuberville elaborated on why he feels the legislation helps to…