Only the right has signed this so far (Bill Ranking)
H.R. 386 · 119th Congress (2025-2026)
2 members · Left 0 · Center 0 · Right 2 (Bill Ranking)
| Sponsor | Rep. Davidson, Warren (R-OH) (Introduced 01/14/2025) |
|---|---|
| Sponsor Voting Record | Right · DW-NOMINATE +0.65 · measured from every roll-call vote this member has cast (voteview.com) (Sponsor Ranking) |
| Support |
LLLCLRR support across the spectrum: 2 members signed on (Bill Ranking) this bill: sponsor + current cosponsors, each once |
| Committees | Senate - Foreign Relations Committee; House - Financial Services Committee |
| Latest Action | 02/11/2025 Received in the Senate and Read twice and referred to the Committee on Foreign Relations. |
| Roll Call Votes | There have been no roll call votes |
| Source | view on congress.gov → |
Introduced in House (01/14/2025)
Chinese Currency Accountability Act of 2025
This bill requires the United States to oppose, absent specified conditions, any increase in the weight of Chinese currency (i.e., the renminbi) in the basket of currencies (currently, a set of five currencies, each with different weightings) used to determine the value of Special Drawing Rights. Special Drawing Rights are international reserve assets created by the International Monetary Fund (IMF) to supplement member countries' official foreign exchange reserves.
Specifically, the Department of the Treasury must instruct certain U.S. officials at the IMF to oppose any such increase unless Treasury has certified that China is in compliance with certain standards and international agreements, including that (1) China is in compliance with all general obligations of members of the IMF, (2) China has not been found to have manipulated its currency in the preceding 12 months, and (3) China adheres to the rules and principles of the Paris Club and the Organisation for Economic Co-operation and Development (OECD) Arrangement on Officially Supported Export Credits.
119 HR 386 EH: Chinese Currency Accountability Act of 2025 U.S. House of Representatives text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. I 119th CONGRESS1st Session H. R. 386
IN THE HOUSE OF REPRESENTATIVES AN ACT 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.
1.Short titleThis Act may be cited as the Chinese Currency Accountability Act of 2025.
2.Opposition of the United States to an increase in the weight of the Chinese renminbi in the Special Drawing Rights basket of the International Monetary FundThe Secretary of the Treasury shall instruct the United States Governor of, and the United States Executive Director at, the International Monetary Fund to use the voice and vote of the United States to oppose any increase in the weight of the Chinese renminbi in the basket of currencies used to determine the value of Special Drawing Rights, unless the Secretary of the Treasury has submitted to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate a written report which includes a certification that— (1)the People’s Republic of China is in compliance with all its obligations under Article VIII of the Articles of Agreement of the Fund; (2)in the preceding 12 months, there has not been a report submitted under section 3005 of the Omnibus Trade and Competitiveness Act of 1988 or section 701 of the Trade Facilitation and Trade Enforcement Act of 2015 in which the People’s Republic of China has been found to have manipulated its currency; and (3)the People’s Republic of China adheres to the rules and principles of the Paris Club and the OECD Arrangement on Officially Supported Export Credits.
3.SunsetSection 2 shall have no force or effect beginning 10 years after the date of the enactment of this Act. Passed the House of Representatives February 10, 2025.Kevin F. McCumber,Clerk.
119 HR 386 IH: Chinese Currency Accountability Act of 2025 U.S. House of Representatives 2025-01-14 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. I119th CONGRESS1st SessionH. R. 386IN THE HOUSE OF REPRESENTATIVESJanuary 14, 2025Mr. Davidson introduced the following bill; which was referred to the Committee on Financial ServicesA BILLTo 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.1.Short titleThis Act may be cited as the Chinese Currency Accountability Act of 2025.2.Opposition of the United States to an increase in the weight of the Chinese renminbi in the Special Drawing Rights basket of the International Monetary FundThe Secretary of the Treasury shall instruct the United States Governor of, and the United States Executive Director at, the International Monetary Fund to use the voice and vote of the United States to oppose any increase in the weight of the Chinese renminbi in the basket of currencies used to determine the value of Special Drawing Rights, unless the Secretary of the Treasury has submitted to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate a written report which includes a certification that—(1)the People’s Republic of China is in compliance with all its obligations under Article VIII of the Articles of Agreement of the Fund;(2)in the preceding 12 months, there has not been a report submitted under section 3005 of the Omnibus Trade and Competitiveness Act of 1988 or section 701 of the Trade Facilitation and Trade Enforcement Act of 2015 in which the People’s Republic of China has been found to have manipulated its currency; and(3)the People’s Republic of China adheres to the rules and principles of the Paris Club and the OECD Arrangement on Officially Supported Export Credits.3.SunsetSection 2 shall have no force or effect beginning 10 years after the date of the enactment of this Act.
119 HR 386 : Chinese Currency Accountability Act of 2025 U.S. House of Representatives 2025-02-11 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. IIB 119th CONGRESS1st Session H. R. 386
IN THE SENATE OF THE UNITED STATES February 11, 2025 Received; read twice and referred to the Committee on Foreign Relations AN ACT 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.
1.Short titleThis Act may be cited as the Chinese Currency Accountability Act of 2025.
2.Opposition of the United States to an increase in the weight of the Chinese renminbi in the Special Drawing Rights basket of the International Monetary FundThe Secretary of the Treasury shall instruct the United States Governor of, and the United States Executive Director at, the International Monetary Fund to use the voice and vote of the United States to oppose any increase in the weight of the Chinese renminbi in the basket of currencies used to determine the value of Special Drawing Rights, unless the Secretary of the Treasury has submitted to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate a written report which includes a certification that— (1)the People’s Republic of China is in compliance with all its obligations under Article VIII of the Articles of Agreement of the Fund; (2)in the preceding 12 months, there has not been a report submitted under section 3005 of the Omnibus Trade and Competitiveness Act of 1988 or section 701 of the Trade Facilitation and Trade Enforcement Act of 2015 in which the People’s Republic of China has been found to have manipulated its currency; and (3)the People’s Republic of China adheres to the rules and principles of the Paris Club and the OECD Arrangement on Officially Supported Export Credits.
3.SunsetSection 2 shall have no force or effect beginning 10 years after the date of the enactment of this Act. Passed the House of Representatives February 10, 2025.Kevin F. McCumber,Clerk.
The bill's own words, from our database (synced from the GPO BILLS XML); paragraph breaks added at the bill's section boundaries, nothing else changed.
| Date | Chamber | All Actions |
|---|---|---|
| 01/14/2025 | Library of Congress | Introduced in House |
| 01/14/2025 | Library of Congress | Introduced in House |
| 01/14/2025 | House floor actions | Referred to the House Committee on Financial Services. |
| 02/10/2025 | House floor actions | Mr. Hill (AR) moved to suspend the rules and pass the bill. |
| 02/10/2025 | House floor actions | Considered under suspension of the rules. (consideration: CR H595-596) |
| 02/10/2025 | House floor actions | DEBATE - The House proceeded with forty minutes of debate on H.R. 386. |
| 02/10/2025 | Library of Congress | Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H595) |
| 02/10/2025 | House floor actions | On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H595) |
| 02/10/2025 | House floor actions | Motion to reconsider laid on the table Agreed to without objection. |
| 02/11/2025 | Senate | Received in the Senate and Read twice and referred to the Committee on Foreign Relations. |
| Title Type | Title |
|---|---|
| Display Title | Chinese Currency Accountability Act of 2025 |
| Official Title as Introduced | 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. |
| Official Titles from EH (Engrossed in House) bill text | 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. |
| Short Titles from RFS (Referred to Senate) bill text | Chinese Currency Accountability Act of 2025 |
| Short Title(s) as Passed House | Chinese Currency Accountability Act of 2025 |
| Short Title(s) as Introduced | Chinese Currency Accountability Act of 2025 |
There are no amendments to this bill.
* = Original cosponsor
| Committee | Activity |
|---|---|
| Senate - Foreign Relations Committee | 02/11/2025 Referred To |
| House - Financial Services Committee | 01/14/2025 Referred To |
No related bill information was received for H.R. 386.
Policy Area: Foreign Trade and International Finance
All data on this page comes from our own database (legislation.congress_* tables), synced daily from the GPO govinfo BILLSTATUS and BILLS collections. Formatted after congress.gov; nothing is generated. Member placement is their DW-NOMINATE score (voteview.com, Lewis et al.) - a measurement of roll-call voting behavior, not our judgement. Buckets: Left below −0.50 · Lean Left to −0.25 · Center to +0.25 · Lean Right to +0.50 · Right above +0.50. The bill's Support meter aggregates the people who signed the bill - sponsor and current cosponsors, each counted once - nothing else.