[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 9713 Introduced in House (IH)]

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119th CONGRESS
  2d Session
                                H. R. 9713

 To remove the United States from the International Monetary Fund, the 
World Bank Group, or the Asian Development Bank if such an institution 
assists in providing debt relief to the People's Republic of China, and 
                          for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             July 15, 2026

  Mr. Perry introduced the following bill; which was referred to the 
                    Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
 To remove the United States from the International Monetary Fund, the 
World Bank Group, or the Asian Development Bank if such an institution 
assists in providing debt relief to the People's Republic of China, and 
                          for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``No More Debt Relief to China Act''.

SEC. 2. WITHDRAWAL OF UNITED STATES FROM CERTAIN INTERNATIONAL 
              FINANCIAL INSTITUTIONS IF SUCH AN INSTITUTION PROVIDES 
              DEBT RELIEF TO, OR EASES A DEBT RELIEF BURDEN OF, THE 
              PEOPLE'S REPUBLIC OF CHINA.

    (a) In General.--
            (1) Withdrawal from the international monetary fund.--The 
        Secretary of the Treasury shall immediately transmit to the 
        International Monetary Fund a written notice of the withdrawal 
        of the United States from the International Monetary Fund if 
        the Secretary determines that the International Monetary Fund 
        has provided any relief to the People's Republic of China with 
        respect to any loan made, in whole or in part, by the 
        International Monetary Fund to the People's Republic of China.
            (2) Withdrawal from the world bank group or the asian 
        development bank.--The Secretary of the Treasury shall 
        immediately transmit to each institution in the World Bank 
        Group or the Asian Development Bank a written notice of the 
        withdrawal of the United States from each institution in the 
        World Bank Group or the Asian Development Bank, respectively, 
        if the Secretary of the Treasury determines that an institution 
        in the World Bank Group or the Asian Development Bank, 
        respectively--
                    (A) has provided any relief to a country with 
                respect to any loan made, in whole or in part, by the 
                respective institution to the country; and
                    (B) the provision of the relief has aided the 
                People's Republic of China in providing relief to the 
                country with respect to any loan made, in whole or in 
                part, by the People's Republic of China to the country.
    (b) Completion of Withdrawal.--Within 60 days after the 
transmission of a notice under subsection (a), the Secretary of the 
Treasury shall complete the process of withdrawing the United States 
from the institution involved.
    (c) Report to Congress.--If the Secretary of the Treasury does not 
comply with subsection (b), the President of the United States shall 
submit to the Congress a report specifying the reasons for the 
noncompliance within 30 days after the end of the 60-day period 
provided in subsection (b).
    (d) Prohibition on Re-Joining.--The United States may not become a 
member of any institution from which the United States has withdrawn 
pursuant to this section.

SEC. 3. OPPOSITION OF IMF RELIEF FOR THE PEOPLE'S REPUBLIC OF CHINA.

    The Secretary of the Treasury shall instruct the United States 
Executive Director at the International Monetary Fund to use the voice 
and vote of the United States to oppose the provision by the 
International Monetary fund of any relief described in section 2(a).

SEC. 4. MONTHLY REPORT ON FINANCIAL TRANSACTIONS MADE BY THE 
              INTERNATIONAL MONETARY FUND, THE WORLD BANK GROUP, OR THE 
              ASIAN DEVELOPMENT BANK.

    The Secretary of the Treasury shall obtain from the International 
Monetary Fund, each institution in the World Bank Group, and the Asian 
Development Bank a monthly report on all financial transactions made by 
the respective institution, including any funds provided to the 
People's Republic of China, or debt of the People's Republic of China 
that has been forgiven, in the month covered by the report, and on 
receipt of any such report shall transmit the report to the Congress.

SEC. 5. CONGRESSIONAL AUTHORITY TO DIRECT UNITED STATES POLICY IN 
              INTERNATIONAL FINANCIAL INSTITUTIONS.

    It is the policy of the United States that the Congress has the 
authority to direct the actions of the United States in any 
international financial institution (as defined in section 1701(c)(2) 
of the International Financial Institutions Act).
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