WASHINGTON, D.C. -- Time could be running out for TikTok after a new law signed this week by President Joe Biden.  

On Wednesday, President Biden signed a sweeping $95 billion foreign aid package to deliver critical aid to Ukraine, Israel and the Indo-Pacific. 

“It's going to make America safer. It's going to make the world safer. And it continues America's leadership in the world and everyone knows it,” said President Biden when he signed the bill.

But also included in the legislation was a provision that now requires TikTok to find a new owner within months or face a nationwide ban. 

A TikTok ban was initially spearheaded by House Republicans who have raised concerns over the app’s data collection and impact on national security. 

“Their goals are evil. We have to get to the realization that everything we do online, with our phones, is being observed and categorized if you will, especially by China,” said Congressman Jack Bergman (R- MI) during an interview last month.

Rep. Bergman serves as a member of the House Armed Services Committee and chairs the Intelligence and Special Operations Subcommittee. 

Bergman believes the TikTok ban is a proactive approach when it comes to dealing with adversaries, like China. 

“The threat is real and it's changing every day, and we're behind,” said Bergman. 

On Thursday, the Beijing-based company, ByteDance, denied reports they were planning to sell the social media app, which has 170 million users in the U.S. alone. 

“This is a tool of the Chinese Communist Party to spy on Americans, period,” said Congressman Nick Langworthy (R- NY). “You have a Chinese Communist Party owned entity that has an app that’s monitoring all of your children's interaction, their pictures, their emails and texts. It's all open and taken in a database that’s being held in China. It's very dangerous,” Langworthy added. 

If they don’t sell, Rep. Langworthy says ByteDance should be prepared to bite the bullet. 

“If they don't want to sell, they're going to have to go out of business,” said Langworthy. 

TikTok's CEO said they will fight in court to remain online in the U.S.