3.0.0 6549 2023-08-07T17:45:21Z 2023-08-07T17:45:21Z House HR 2022-02-01 117 [Congressional Record Volume 168, Number 20 (Tuesday, February 1, 2022)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Ms. OCASIO-CORTEZ:H.R. 6549.Congress has the power to enact this legislation pursuantto the following:Article 1, Section 1 of the Constitution.[Page H331]]]> hsba00 Financial Services Committee House Standing Referred to 2022-02-01T19:01:40Z 2022-02-01 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2022-02-01 Introduced in House IntroReferral Intro-H 9 Library of Congress 2022-02-01 Introduced in House IntroReferral 1000 9 Library of Congress O000172 Rep. Ocasio-Cortez, Alexandria [D-NY-14] Alexandria Ocasio-Cortez D NY 14 N International Affairs Air quality Asia Cardiovascular and respiratory health China Climate change and greenhouse gases Congressional oversight Emergency medical services and trauma care Foreign aid and international relief Foreign loans and debt Infectious and parasitic diseases International monetary system and foreign exchange International organizations and cooperation Multilateral development programs International Affairs 00 2022-02-01 Introduced in House 2023-08-07T17:31:36Z This bill requires the Department of the Treasury to support and advocate for debt relief for developing countries.

Treasury must engage with international financial institutions and creditors to advocate for support, implementation, and improvement of the Common Framework for Debt Treatments beyond the Debt Service Suspension Initiative (DSSI) (and any successor framework or similar coordinated international debt treatment process). (The DSSI is an initiative established by the Group of 20, the informal grouping of 19 major economies and the European Union, that provides temporary debt restructuring for the world's poorest countries. The common framework is a framework endorsed by 39 creditors to provide permanent debt forgiveness.)

Treasury must also engage with international financial institutions and creditors to advocate for a comprehensive debt payment standstill for each participating debtor while the debtor's application for relief under the common framework and negotiations related to such relief are pending or ongoing.

Treasury must also order U.S. representatives to the International Monetary Fund and the World Bank to advocate and vote for such initiatives and policies without undermining the respective institution's ability to provide new and additional aid and assistance.

]]> To provide support for international initiatives to provide debt relief to developing countries with unsustainable levels of debt, and for other purposes. Display Title To provide support for international initiatives to provide debt relief to developing countries with unsustainable levels of debt, and for other purposes. Official Title as Introduced To provide support for international initiatives to provide debt relief to developing countries with unsustainable levels of debt, and for other purposes. Introduced in House IH Introduced in House 2022-02-01T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-117hr6549ih/xml/BILLS-117hr6549ih.xml 2022-02-01 Referred to the House Committee on Financial Services. 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. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.