This bill strengthens U.S. military support for Taiwan by accelerating weapons sales, coordinating defense planning, and establishing new funding mechanisms. The legislation requires the Department of Defense to review war plans to defend Taiwan annually and create a pre-approved list of military equipment Taiwan can purchase quickly through the Foreign Military Sales program, with expedited processing and prioritized production by defense contractors. It establishes a Taiwan Critical Munitions Acquisition Fund with up to $2 billion per year in Defense Department transfers to stockpile weapons needed for Taiwan's defense, and creates a high-level military planning mechanism between U.S. and Taiwan military officials. The bill also prevents U.S. defense contractors from doing business with Chinese government-controlled entities and extends related oversight provisions through 2040, affecting defense contractors, military personnel, and congressional Armed Services committees that will receive regular reports on implementation.