Chinese Currency Accountability Act of 2025
Sponsored By: Representative Davidson
Passed House
Summary
Blocks increases in the Chinese renminbi's weight in the IMF's Special Drawing Rights basket unless Treasury certifies China meets specified international standards. The bill would require the Treasury Secretary to instruct U.S. IMF officials to oppose any increase unless Treasury submits a written report certifying that China complies with Article VIII of the IMF Articles of Agreement, has not been found to have manipulated its currency in the prior 12 months, and adheres to the rules of the Paris Club and the OECD Arrangement on Officially Supported Export Credits. Section 2 expires 10 years after enactment.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 0 benefits, 0 costs, 1 mixed.
U.S. would oppose higher China SDR share
If enacted, the Treasury Secretary would tell U.S. officials at the International Monetary Fund to vote against raising China’s weight in the Special Drawing Rights (SDR) basket. That stance would hold unless the Secretary sends a written report to the House Financial Services and Senate Banking, Housing, and Urban Affairs Committees certifying three things: China follows IMF Article VIII; no U.S. report in the past 12 months found China manipulated its currency; and China follows Paris Club and OECD export‑credit rules. The requirement would start on enactment and end 10 years later. For most households, any effects would be indirect and economy‑wide.
Sponsors & CoSponsors
Sponsor
Davidson
OH • R
Cosponsors
Rep. Meuser, Daniel [R-PA-9]
PA • R
Sponsored 2/7/2025
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov