summary
Introduced
06/08/2023
06/08/2023
In Committee
06/08/2023
06/08/2023
Crossed Over
Passed
Dead
01/03/2025
01/03/2025
Introduced Session
118th Congress
Bill Summary
A bill to require the United States Governor of, and the United States Executive Director at, the International Monetary Fund to oppose an increase in the weight of the Chinese renminbi in the Special Drawing Rights basket of the Fund, and for other purposes.
AI Summary
This bill, the Chinese Currency Accountability Act of 2023, requires the United States Governor and Executive Director at the International Monetary Fund (IMF) to oppose any increase in the weight of the Chinese renminbi in the Special Drawing Rights (SDR) basket, unless the Secretary of the Treasury certifies that China is in compliance with its obligations, has not manipulated its currency, has made the renminbi freely usable, and adheres to the rules and principles of the Paris Club and the Arrangement on Officially Supported Export Credits of the Organisation for Economic Co-operation and Development. The bill also includes a sunset provision, which means this requirement will expire 10 years after the bill's enactment.
Committee Categories
Government Affairs
Sponsors (7)
Ted Budd (R)*,
John Barrasso (R),
Katie Boyd Britt (R),
Mike Braun (R),
Joni Ernst (R),
Cindy Hyde-Smith (R),
Joe Manchin (I),
Last Action
Read twice and referred to the Committee on Foreign Relations. (on 06/08/2023)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/118th-congress/senate-bill/1919/all-info |
| BillText | https://www.congress.gov/118/bills/s1919/BILLS-118s1919is.pdf |
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