TAIPEI (Taiwan News) — The U.S. House Select Committee on the Chinese Communist Party (CCP) proposed a bill on Friday (May 10) authorizing the allocation of US$120 million (NT$3.89 billion) for the Taiwan Allies Fund Act.

According to a press release by the committee, the bipartisan legislation will fund a three-year program to provide foreign aid to Taiwan’s official partners and resist coercion from China. Representative John Moolenaar, chair of the committee, and Representative Raja Krishnamoorthi led the proposal, per CNA.

“China has engaged in a years-long campaign to diplomatically isolate Taiwan on the world stage” the bill read. “China has used economic and diplomatic intimidation against countries pursuing unofficial relations with Taiwan, including Lithuania, Czechia, and the U.S.”

“Our legislation will help Taiwan’s diplomatic allies resist CCP authoritarian pressure campaigns while meeting their development needs,” Moolenaar said. “The U.S. must stand with those who stand with Taiwan.”

Ted W. Lieu (劉雲平), a supporter of the bill, in a press release, said, “As China increases their pressure and coercion efforts on regional neighbors and nations across the globe, it is critically important to support our democratic partners and allies.”

“Taiwan has long been a key partner to the U.S. and the global community. I am pleased to join my colleagues in introducing this bill,” he added.

This is the first Taiwan-related bill co-sponsored by Moolenaar since taking over as chair in April, reported CNA.