Bills · 118th Congress · International Affairs

China Exchange Rate Transparency Act of 2023

Where it stands

  1. Introduced2/6/23
  2. Passed HousePassed 1/12/24
  3. Senate
  4. President
  5. Law

Passed the House 379–1 on January 12, 2024 (Roll Call 9 →). Received in the Senate on January 16, 2024. No Senate action since.

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Roll calls on this bill

Votes on passage
HouseOn Motion to Suspend the Rules and Pass, as Amended · 1/12/24Suspension of the rulesA fast-track House procedure, usually for measures expected to have broad support. Debate is limited to 40 minutes, no amendments can be offered, and it needs a two-thirds vote of members voting — not a simple majority. A yes vote passes the bill. “As amended” means changes written into the motion itself are included.Rules of the House, Rule XV, clause 1 ↗
Passed
  • Democratic183 Yea · 0 Nay · 30 Not voting
  • Republican196 Yea · 1 Nay · 22 Not voting
  • Independent / Other0 Yea · 0 Nay · 0 Not voting
Official summary (CRS)

China Exchange Rate Transparency Act of 2023

This bill requires the U.S. Executive Director at the International Monetary Fund (IMF) to use the voice and vote of the United States to advocate for increased exchange rate transparency from China.

Some areas of focus for this advocacy are (1) Chinese exchange rate arrangements, including any indirect foreign exchange market intervention through Chinese financial institutions or state-owned enterprises; (2) enhanced multilateral and bilateral surveillance by the IMF; and (3) stronger consideration of China's performance as a responsible stakeholder in the international monetary system when evaluating quota and voting shares at the IMF.

Full text on congress.gov ↗
Sponsor
Rep. Daniel Meuser ( Republican · PA-9)
Cosponsors
6
Introduced
2/6/23
Policy area
International Affairs

What happens next

The Senate must pass the same text, then it goes to the President.

If it isn't enacted by Jan 3, 2025, it expires when the 118th Congress ends.

All actions (15)
  1. 2/6/23Introduced in House
  2. 2/6/23Referred to the House Committee on Financial Services.
  3. 2/28/23Committee Consideration and Mark-up Session Held.
  4. 2/28/23Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 36 - 0.
  5. 12/1/23Reported (Amended) by the Committee on Financial Services. H. Rept. 118-291.
  6. 12/1/23Placed on the Union Calendar, Calendar No. 235.
  7. 1/10/24Mr. McHenry moved to suspend the rules and pass the bill, as amended.
  8. 1/10/24Considered under suspension of the rules. (consideration: CR H35-37)
  9. 1/10/24DEBATE - The House proceeded with forty minutes of debate on H.R. 839.
  10. 1/10/24At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
  11. 1/12/24Considered as unfinished business. (consideration: CR H124)
  12. 1/12/24Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 379 - 1 (Roll no. 9). (text: 1/10/2024 CR H35)
  13. 1/12/24On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 379 - 1 (Roll no. 9). (text: 1/10/2024 CR H35)
  14. 1/12/24Motion to reconsider laid on the table Agreed to without objection.
  15. 1/16/24Received in the Senate and Read twice and referred to the Committee on Foreign Relations.