[Congressional Record Volume 150, Number 103 (Thursday, July 22, 2004)]
[Senate]
[Page S8752]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Ms. SNOWE (for herself, Mr. Voinovich, and Mrs. Dole):
  S. 2765. A bill to amend the Exchange Rates and International 
Economic Policy Coordination Act of 1988 to clarify the conditions 
under which the Secretary should enter into negotiations to correct 
currency manipulations by other countries; to the Committee on Banking, 
Housing, and Urban Affairs.
  Ms. SNOWE. Mr. President, I respectfully request that the attached 
bill be printed in the Record as introduced. If you have any questions 
about this request, please contact Rob Weissert at 4-0216.
  There being no objection, the text of the bill was ordered to be 
printed in the Record, as follows:

                                S. 2765

     SECTION 1. AMENDMENTS RELATING TO INTERNATIONAL FINANCIAL 
                   POLICY.

       (a) Bilateral Negotiations.--Section 3004(b) of the 
     Exchange Rates and International Economic Policy Coordination 
     Act of 1988 (22 U.S.C. 5304(b)) is amended in the second 
     sentence by striking ``(1) have material global account 
     surpluses; and (2)''.
       (b) Report.--Section 3005(b) of the Exchange Rates and 
     International Economic Policy Coordination Act of 1988 (22 
     U.S.C. 5305(b)) is amended--
       (1) by striking ``and'' at the end of paragraph (7);
       (2) by striking the period at the end of paragraph (8) and 
     inserting ``; and''; and
       (3) by adding at the end the following:
       ``(9) a detailed explanation of the test the Secretary uses 
     to determine if a country is manipulating the rate of 
     exchange between that country's currency and the dollar for 
     purposes of preventing effective balance of payments 
     adjustments or gaining an unfair advantage in international 
     trade.''.
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