Bill would push US to oppose IMF quota boosts for currency manipulators
Placed on the calendarH.R. 8290Latest action
Sponsor: Pete Sessions · Representative · TX
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Official title: China Exchange Rate Accountability Act of 2026
119th Congress
Topics: Security & foreign affairs
Introduced:
Read the official bill on Congress.govIn plain words
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The bill directs the U.S. to vote against IMF quota increases for major economies that manipulate their currency or lack transparency.
45-second read · 4 questions answered below
What does this do?
The bill requires the U.S. Treasury Secretary to check whether any of the IMF's 10 biggest member countries are transparent about exchange rate policies and not manipulating their currency before the IMF considers raising that country's voting quota. If a country fails these checks, the U.S. representative at the IMF must vote against the quota increase. The president can waive this requirement for national interest reasons with notice to Congress, and the rule expires seven years after enactment.
Who does it affect?
This affects U.S. foreign economic policy, the U.S. Treasury Secretary, and the U.S. representative at the IMF; it also directly concerns the IMF's 10 largest member countries, including China.
Why does it matter?
The measure could affect global trade balances and currency relations, indirectly influencing U.S. businesses and consumers who trade with or compete against major economies like China.
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Where does it stand?
- IntroducedApr 15, 2026
- House committee
- House voteYou are here · Jun 18, 2026
- Senate
- The president's desk
Right now: it was placed on the , and the official record shows no floor action on it since. If the Senate changes it, it goes back to the House before reaching the president.
Latest action: — Placed on the Union Calendar, Calendar No. 611.