Codifies the Six Assurances as a statement of U.S. policy toward Taiwan, listing the six assurances (e.g., no date set to end arms sales; no U.S. mediation on sovereignty; no pressure on Taiwan to negotiate with the PRC).
Requires the President to notify Congress before taking five types of actions affecting Taiwan policy, including pausing or terminating defensive arms provision or negotiating arms with the PRC.
Creates a statutory congressional review period (generally 30 days; 60 days between July 10 and Sept 7) during which Congress may hold hearings and during which funds may not be expended to carry out the proposed action unless Congress approves.
Establishes expedited procedures and specific forms for joint resolutions approving or disapproving the President’s proposed action and rules for fast floor consideration in both chambers.
Defines the 'appropriate congressional committees' for review as House Foreign Affairs and Senate Foreign Relations Committees and includes a severability clause.
No hearings or votes scheduled.