PHILADELPHIA, PA — Senator Dave McCormick (R-PA) today applauded Hanwha Group’s historic $5 billion investment in the Hanwha Philly Shipyard and greater Philadelphia area. The $5 billion program will be dedicated to the installation of additional docks and quays to increase capacity. Hanwha is also reviewing the build-out of a new block assembly facility. Through this expansion, Hanwha aims to increase Philly Shipyard’s annual production volume from less than two vessels to up to 20. As a global leader in LNG vessels, Hanwha aims to produce LNG carriers, naval modules and blocks, and, in the long-term, naval vessels out of its U.S. shipyard. This investment is also expected to create

WASHINGTON, D.C. – Senators Dave McCormick (R-PA) and Tim Kaine (D-VA) today introduced the Strengthening United States Leadership at the Inter-American Development Bank Act, which would bolster key economic partners in the Western Hemisphere, provide more alternatives to Chinese investment, and create opportunities for U.S. companies that will create jobs in the United States. “We must reassert America’s leadership role in the Western Hemisphere and protect the homeland from the Chinese Communist Party’s efforts to expand its influence in our backyard,” Senator McCormick said. “This bill will strengthen U.S. national security, help American companies create jobs, and provide alternatives to Chinese investment for our allies and partners.” “The

WASHINGTON, D.C. — Senator Dave McCormick (R-PA) and Senator John Fetterman (D-PA) today introduced the PRC Broker-Dealers and Investment Advisers Moratorium Act to protect U.S. markets, consumers, and national economic security. This legislation is in response to growing concerns on the unequal regulatory landscape between the United States and the People’s Republic of China (PRC) that expose U.S. financial markets and consumer data to risk from Chinese Communist Party (CCP)-linked firms. “The PRC Broker-Dealers and Investment Advisers Moratorium Act recognizes that CCP-linked firms pose an inherent risk to our financial system,” said Senator McCormick. “This bill gives the financial regulators necessary time to evaluate the impact on U.S. consumer protection and protects the