The measure, planned by the panel's chair Representative Michael McCaul, a Republican, would aim to give the White House the legal tools to ban TikTok over U.S. national security concerns.
"The concern is that this app gives the Chinese government a back door into our phones," McCaul told Bloomberg News, which reported the vote timing earlier.
In 2020, then-President Donald Trump attempted to block new users from downloading TikTok and ban other transactions that would have effectively blocked the app's use in the United States, but lost a series of court battles over the measure.
The Biden administration in June 2021 formally abandoned that effort. Then in December, Republican Senator Marco Rubio unveiled bipartisan legislation to ban TikTok, which would also block all transactions from any social media company in or under the influence of China and Russia.