House Republicans have introduced legislation to halt U.S. taxpayer funds from supporting the World Economic Forum (WEF).
Criticizing the WEF’s objectives as elitist and “anti-American,” the proposed Defund Davos Act seeks to prevent any federal funds from being allocated to the organization.
Republican-led bill seeks to block federal funding for World Economic Forum
This initiative is led by Rep. Scott Perry (R-Pa.) and co-sponsored by other Republican representatives.
The bill, detailed in a January 19 press release, stipulates that no funds from the U.S. Department of State, the United States Agency for International Development, or any other federal department or agency should be used to finance the WEF.
Rep. Perry leads charge against U.S. funding for ‘elitist’ WEF
Rep. Perry condemned the practice of funding what he called “annual ski trips for insular, global elitists,” stating, “The World Economic Forum doesn’t deserve one cent of American funding, and it’s past time we defund Davos.”
The measure’s co-sponsors include Reps. Tom Tiffany (R-Wis.), Paul Gosal (R-Az.), Diana Harshbarger (R-Tenn.), Andy Ogles (R-Tenn.) and Matt Rosendale (R-Mt.), with Tiffany emphasizing the prevention of U.S. tax dollars funding the WEF’s agenda.
Controversial aspects of World Economic Forum’s agenda
The WEF, led by founder Klaus Schwab, has been promoting “The Great Reset,” a concept that Schwab describes as a global effort to overhaul societies and economies.
This agenda, as outlined by Schwab, includes steering markets towards fairer outcomes, channeling investments towards goals like equality and sustainability, and harnessing technology like AI for the public good.
This year’s WEF meetings, which ran from January 15-19, included discussions on topics like biometric digital ID cards, as suggested by Queen Máxima of the Netherlands.
U.S. Republicans’ opposition to WEF funding
The U.S. has historically contributed millions of dollars to the WEF, fueling discussions that Republicans argue are against American interests.
The WEF’s advocacy for reshaping capitalism and bolstering multinational institutions has been criticized for potentially undermining national sovereignty and promoting economic interventionism.
Global reactions to Trump’s potential reelection
The WEF’s annual summit this year saw discussions centered around former President Donald Trump’s victory in the Iowa caucuses.
Notable attendees like European Central Bank President Christine Lagarde and Gordon Brown, former UK Prime Minister, expressed concerns about the implications of Trump’s potential reelection.
Lagarde suggested a solid domestic market as the best defense, while Brown voiced worries about the global impact of a Trump presidency.
Trump’s participation in previous WEF meetings
President Trump, who attended WEF meetings in 2018 and 2020, has been a vocal critic of the forum’s agenda.
In his 2020 keynote address, he promoted his protectionist trade policies and expressed skepticism about climate change, targeting “alarmists” and “radical socialists.”
The introduction of the Defund Davos Act coincides with the WEF’s ongoing efforts to influence global policy and the increasing scrutiny of its role in international affairs.