Under the proposal, ByteDance would be forced to sell TikTok to American owners, ensuring data protection from China's access and political use.
President Biden stated he will approve the bill if it reaches him, emphasizing the importance of securing U.S. user data from foreign entities.
House Speaker Mike Johnson revealed plans for funding bills for Israel, Ukraine, Taiwan, and one addressing TikTok ownership, aiming for Senate approval by bundling them together.
If passed, TikTok would have nearly a year to strategize divestment and establish a deal with a U.S. owner, despite concerns voiced by the Chinese government.
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