To increase effectiveness in the pursuit of United States interests and multilateral cooperation at the international financial institutions, and for other purposes.

This bill temporarily authorizes the Department of the Treasury to waive, on a case-by-case basis, statutory mandates that govern the U.S. Executive Directors at international financial institutions with respect to their use of the voice and vote of the United States. For each such waiver, Treasury must issue a report that (1) describes the project or policy to which the waiver would apply, (2) explains the reasons for the waiver, and (3) certifies that the waiver does not undermine the ability of the United States to promote the mandate's policy objectives. Treasury must review existing statutory mandates and submit any recommendations to revise or sunset the mandates with the objectives of strengthening U.S. leadership, facilitating multilateral cooperation, reflecting changing conditions, and advancing the U.S. national interest.