[House Report 119-245]
[From the U.S. Government Publishing Office]
119th Congress } { Report
HOUSE OF REPRESENTATIVES
1st Session } { 119-245
=======================================================================
NO NEW BURMA FUNDS ACT
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September 8, 2025.--Committed to the Committee of the Whole House on
the State of the Union and ordered to be printed
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Mr. Hill of Arkansas, from the Committee on Financial Services,
submitted the following
R E P O R T
[To accompany H.R. 4423]
The Committee on Financial Services, to whom was referred
the bill (H.R. 4423) to continue the pause on disbursements and
new financing commitments to the Government of Burma, having
considered the same, reports favorably thereon with an
amendment and recommends that the bill as amended do pass.
CONTENTS
Page
Purpose and Summary.............................................. 2
Background and Need for Legislation.............................. 2
Committee Consideration.......................................... 2
Related Hearings................................................. 3
Committee Votes.................................................. 3
Committee Oversight Findings..................................... 5
Performance Goals and Objectives................................. 5
Committee Cost Estimate.......................................... 5
New Budget Authority and CBO Cost Estimate....................... 5
Unfunded Mandates Statement...................................... 5
Earmark Statement................................................ 5
Federal Advisory Committee Act Statement......................... 5
Applicability to the Legislative Branch.......................... 6
Duplication of Federal Programs.................................. 6
Section-by-Section Analysis of the Legislation................... 6
Changes in Existing Law Made by the Bill, as Reported............ 6
The amendment is as follows:
Strike all after the enacting clause and insert the
following:
SECTION 1. SHORT TITLE.
This Act may be cited as the ``No New Burma Funds Act''.
SEC. 2. CONTINUATION OF PAUSE ON WORLD BANK DISBURSEMENTS AND
COMMITMENTS TO BURMA.
The Secretary of the Treasury shall direct the United States
Executive Director at the International Bank for Reconstruction and
Development to use the voice and vote of the United States to continue
the pause by the Bank on disbursements and the making of new financing
commitments to the Government of Burma, that was initiated after a
military coup overthrew the democratically elected Government of Burma
in 2021, unless the Secretary of the Treasury determines that it is not
in the national interest to do so.
PURPOSE AND SUMMARY
H.R. 4423, the No New Burma Funds Act, was introduced on
July 15, 2025, by Democratic Representative Nikema Williams
(GA-05). H.R. 4423 mandates that the United States use voice
and vote to continue the World Bank's pause on disbursements
and new financing commitments to the government of Burma, which
was initiated after a military coup overthrew the
democratically elected government of Burma in 2021.
BACKGROUND AND NEED FOR LEGISLATION
On February 1, 2021, the Tatmadaw, Myanmar's military,
launched a coup where power was seized from a democratically
elected government and the military took charge. The Tatmadaw's
Senior General Min Aung Hlaing assumed power, imposed a state
of emergency, suspended democratic institutions, and vested
authority in the newly formed State Administration Council
(SAC).\1\
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\1\Maizland, Myanmar's Troubled History.
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Following the coup, the World Bank announced a pause of
disbursements and new financing for the country, though it
continues to monitor the economy and provide grant support
through third parties that can benefit civilians directly.\2\
The U.S. has maintained its position on condemning the junta's
coup and supporting the restoration of democracy in Myanmar,
while holding the military accountable for human rights abuses.
Following the coup, the U.S. imposed targeted sanctions on key
senior military officials, their families,\3\ and on military-
owned enterprises such as Myanmar Economic Holdings Limited and
Myanmar Economic Corporation Limited.\4\
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\2\The World Bank in Myanmar: Overview, https://www.worldbank.org/
en/country/myanmar/overview (last updated Oct. 8, 2024).
\3\Press Release, U.S. Dep't of the Treasury, Treasury Sanctions
Governing Body, Officials, and Family Members Connected to Burma's
Military (May 17, 2021), https://home.treasury.gov/news/press-releases/
jy0180.
\4\Press Release, U.S. Dep't of the Treasury, Treasury Sanction
Military Holding Companies in Burma (Mar. 25, 2021), https://
home.treasury.gov/news/press-releases/jy0078.
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In February 2025, President Trump extended a national
emergency declaration (first invoked by former President Biden
in 2021) that allowed the continuation of sanctions on the
military junta.
COMMITTEE CONSIDERATION
119TH CONGRESS
On July 15, 2025, Representative Williams of Georgia
introduced H.R. 4423, the No New Burma Funds Act, with
Representative Young Kim (R-CA) as original cosponsor.
Representatives Monica De La Cruz (R-TX) and Timothy M. Kennedy
(D-NY) were added subsequently as cosponsors.
The bill was attached to the May 7, 2025, hearing titled
``The Annual Testimony of the Secretary of the Treasury on the
State of the International Financial System.''
On July 22, 2025, the Committee on Financial Services met
in open session to consider, among others, H.R. 4423. The
Committee ordered H.R. 4423, as amended, to be favorably
reported to the House of Representatives.
RELATED HEARINGS
Pursuant to clause 3(c)(6) of rule XIII of the Rules of the
House of Representatives, the following hearing was used to
develop H.R. 4423:
The Committee on Financial Services held a May 7, 2025,
hearing titled ``The Annual Testimony of the Secretary of the
Treasury on the State of the International Financial System.''
The sole witness at the hearing was The Honorable Scott
Bessent, Secretary of the Treasury.
COMMITTEE VOTES
Clause 3(b) of rule XIII of the Rules of the House of
Representatives requires the Committee Report to include record
votes on the motion to report legislation and amendments
thereto.
On July 22, 2025, the Committee ordered H.R. 4423, as
amended, to be reported favorably to the House by a recorded
vote of 54 yeas and 0 nays. (Record Vote No. FC-178).
Before the question to report was called, the Committee
adopted an amendment in the nature of a substitute offered by
Representative Williams of Georgia, designated as WILLGA_065.
The amendment was agreed to by a voice vote.
[GRAPHIC(S) NOT AVAILABLE IN TIFF FORMAT]
COMMITTEE OVERSIGHT FINDINGS
Pursuant to clause 3(c) of rule XIII of the Rules of the
House of Representatives, the findings and recommendations of
the Committee, based on oversight activities under clause
2(b)(1) of rule X of the Rules of the House of Representatives
are incorporated in the descriptive portions of this report.
PERFORMANCE GOALS AND OBJECTIVES
Pursuant to clause 3(c)(4) of rule XIII of the Rules of the
House of Representatives, the goal of H.R. 4423 enhances the
United States' economic and political pressure on the junta in
attempts to restore peace and democracy in Burma.
COMMITTEE COST ESTIMATE
Clause 3(d)(1) of rule XIII of the Rules of the House of
Representatives requires an estimate and a comparison of the
costs that would be incurred in carrying out H.R. 4423. The
Committee has requested but not received a cost estimate from
the Director of the Congressional Budget Office. However,
pursuant to clause 3(d)(1) of rule XIII of the Rules of the
House of Representatives, the Committee will adopt as its own
the cost estimate by the Director of the Congressional Budget
Office once it has been prepared.
NEW BUDGET AUTHORITY AND CBO COST ESTIMATE
With respect to the requirements of clause 3(c)(2) of rule
XIII of the Rules of the House of Representatives and section
308(a) of the Congressional Budget Act of 1974 and with respect
to requirements of clause 3(c)(3) of rule XIII of the Rules of
the House of Representatives and section 402 of the
Congressional Budget Act of 1974, the Committee will adopt as
its own the cost estimate for the bill prepared by the Director
of the Congressional Budget Office. However, a cost estimate
was not made available to the Committee in time for the filing
of this report. The Chairman of the Committee shall cause such
estimate to be printed in the Congressional Record upon its
receipt by the Committee.
UNFUNDED MANDATES STATEMENT
The Committee has requested but not received from the
Director of the Congressional Budget Office an estimate of the
Federal mandates pursuant to section 423 of the Unfunded
Mandates Reform Act. The Chairman of the Committee shall cause
such estimate to be printed in the Congressional Record upon
its receipt by the Committee.
EARMARK STATEMENT
In compliance with clause 9 of rule XXI of the Rules of the
House of Representatives, this bill, as reported, contains no
congressional earmarks, limited tax benefits, or limited tariff
benefits as defined in clause 9(e), 9(f), or 9(g) of rule XXI.
FEDERAL ADVISORY COMMITTEE ACT STATEMENT
No advisory committees within the meaning of section 5(b)
of the Federal Advisory Committee Act were created by this
legislation.
APPLICABILITY TO THE LEGISLATIVE BRANCH
The Committee finds that the legislation does not relate to
the terms and conditions of employment or access to public
services or accommodations within the meaning of section
102(b)(3) of the Congressional Accountability Act.
DUPLICATION OF FEDERAL PROGRAMS
Pursuant to clause 3(c)(5) of rule XIII of the Rules of the
House of Representatives, the Committee states that no
provision of the bill establishes or reauthorizes a program of
the Federal Government known to be duplicative of another
Federal program, including any program that was included in a
report to Congress pursuant to section 21 of the Public Law
111-139 or the most recent Catalog of Federal Domestic
Assistance.
SECTION-BY-SECTION ANALYSIS OF THE LEGISLATION
Section 1. Short title
Section 1 provides the short title as the ``No New Burma
Funds Act''.
Section 2. Continuation of pause on World Bank disbursements and
commitments to Burma
Section 2 mandates the United States use voice and vote to
continue the World Bank's pause on disbursements and new
financing commitments to the government of Burma, which was
initiated after the military coup in 2021.
CHANGES IN EXISTING LAW MADE BY THE BILL, AS REPORTED
H.R. 4423 does not repeal or amend any section of a
statute. Therefore, the Office of Legislative Counsel did not
prepare the report required under clause 3(e) of rule XIII of
the House of Representatives.
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