116 HR 8290 RH: China Exchange Rate Accountability Act of 2026 U.S. House of Representatives 2026-06-18 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.

IBUnion Calendar No. 611119th CONGRESS2d SessionH. R. 8290[Report No. 119–703]IN THE HOUSE OF REPRESENTATIVESApril 15, 2026Mr. Sessions introduced the following bill; which was referred to the Committee on Financial ServicesJune 18, 2026Reported with amendments, committed to the Committee of the Whole House on the State of the Union, and ordered to be printedStrike out all after the enacting clause and insert the part printed in italicFor text of introduced bill, see copy of bill as introduced on April 15, 2026A BILLTo require the use of the voice and vote of the United States to oppose any quota increase at the International Monetary Fund for member countries that employ certain exchange rate practices, and for other purposes.

1.

Short title

This Act may be cited as the China Exchange Rate Accountability Act of 2026.

2.

Opposition to International Monetary Fund voting power increase for the People’s Republic of China

The Bretton Woods Agreements Act (22 U.S.C. 286–286aaa) is amended—(1)by redesignating the 2nd section 73 (as added by section 1901 of division P of Public Law 116–94) as section 74; and(2)by adding at the end the following:

75.

Opposition to International Monetary Fund voting power increase for the People’s Republic of China

(a)

In general

Not less than 7 days before consideration of any proposal to increase the voting power of the People’s Republic of China, the Secretary of the Treasury shall submit a report to the Committee on Financial Services of the House of Representatives and the Committee on Foreign Relations of the Senate that sets forth a determination by the Secretary as to whether the People’s Republic of China meets the following criteria:(1)The People’s Republic of China, in the preceding 12 months, does not appear to have been in violation of its obligations under Article VIII of the Articles of Agreement of the Fund, based on publicly available data.(2)The People’s Republic of China—(A)maintains transparent exchange rate policies and practices; and(B)publishes credible balance of payments data.(3)To the extent that the People’s Republic of China, in the preceding 12 months, has recorded a current account surplus, the People’s Republic of China has not persistently managed the rate of exchange between its currency and the United States dollar for purposes of preventing effective balance of payments adjustments or gaining unfair competitive advantage in international trade.(b)

Effect of determination

On determining that the People’s Republic of China has failed to meet any of the criteria set forth in subsection (a), the Secretary shall instruct the Governor of the Fund to use the voice and vote of the United States to oppose the proposal to increase the voting power of the People’s Republic of China in the Fund.(c)

Waiver

The President may waive subsection (b) with respect to the People’s Republic of China on reporting to the Committee on Financial Services of the House of Representatives and the Committee on Foreign Relations of the Senate that the waiver is important to the national interest of the United States, with an explanation of the reasons therefor.(d)

Proposal consideration

For purposes of this section, consideration of a proposal to increase the voting power of the People’s Republic of China does not include consent to an amendment to the Articles of Agreement of the Fund that has been authorized by law.(e)

Sunset

This section shall cease to have force or effect 7 years after the date of the enactment of this section.

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Amend the title so as to read: A bill providing for circumstances requiring the use of the voice and vote of the United States to oppose any increase in voting the People’s Republic of China at the International Monetary Fund, and for other purposes..June 18, 2026Reported with amendments, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed