Bill directs US to oppose bigger IMF role for China's currency
Passed one chamberH.R. 386Latest action
Sponsor: Warren Davidson · Representative · OH
AIDecoded by AI · checked against the recordRead the official text
Official title: Chinese Currency Accountability Act of 2025
119th Congress
Topics: Security & foreign affairs
Introduced:
Read the official bill on Congress.govIn plain words
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The bill requires U.S. officials to vote against expanding the renminbi's role in the IMF's reserve basket unless Treasury certifies China meets specific conditions.
40-second read · 4 questions answered below
What does this do?
HR 386 directs the Treasury Secretary to instruct U.S. representatives at the IMF to vote against increasing the renminbi's weight in the IMF's Special Drawing Rights basket. The U.S. must oppose this unless Treasury certifies China meets its IMF financial obligations, hasn't been labeled a currency manipulator in the past year, and follows international export credit and debt rules. The requirement expires 10 years after enactment.
Who does it affect?
This affects U.S. Treasury officials and IMF representatives who must follow the voting instruction, plus the broader U.S.-China economic relationship.
Why does it matter?
The policy could limit how much global economic status and prestige China's currency gains through a larger role in the IMF's reserve basket.
AI-drafted summary. Check it against the official text before you act on it.
Based on the “Referred in Senate” text of Feb 11, 2025.
Read the official bill on Congress.govMake the call
Where does it stand?
- IntroducedJan 14, 2025
- House committee
- House vote
- SenateYou are here · Feb 11, 2025
- The president's desk
Right now: it passed the House, and the official record shows nothing new since. If the Senate changes it, it goes back to the House before reaching the president.
Latest action: — Received in the Senate and Read twice and referred to the Committee on Foreign Relations.