The Economic Espionage Prevention Act Passes the House with Bipartisan Support

WASHINGTON - Yesterday, the House of Representatives passed H.R. 1486, The Economic Espionage Prevention Act authored by Congressman McCormick. This legislation will give the U.S. government authority to sanction foreign entities that support Russia's military, violate U.S. export controls, or steal American intellectual property. It will also require a report to assess China's support for Russia's military and update the International Emergency Economic Powers Act (IEEPA) to allow stronger actions against China and other foreign adversaries.

"The Economic Espionage Prevention Act is a critical step forward in protecting American ingenuity and securing our future. I am proud of the bipartisan support my bill received on the House floor. We need to prevent U.S. technology and intellectual property from being used against allies and national security,"said Congressman McCormick.

The text of the Economic Espionage Prevention Act can be found here.

Watch the floor debate of the Economic Espionage Prevention Act here.

Media Contact:
Regan Bruno: Regan.Bruno@mail.house.gov

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