SRES713119th Congress
A resolution supporting the United States dollar as the reserve currency of the world and combating the economic influence of the People's Republic of China.
Sponsored By: Senator Budd, Ted [R-NC]
Introduced
Summary
Protect the U.S. dollar's reserve status. This bill would press the United States to counter China's growing financial influence and to shore up the dollar's central role in global trade and finance.
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- The U.S. economy and national security: Frames China’s push to internationalize the yuan and build parallel finance systems as a threat. It cites IMF data showing the dollar's share of global reserves fell from about 71% in 1999 to 56.82% in the third quarter of 2025 while the yuan held 1.93%.
- Developing countries and borrowers: Calls out Chinese 'debt diplomacy' and opaque lending through the Belt and Road Initiative. It notes BRI activity hit about $213.5 billion in 2025 and that China has invested over $1 trillion in BRI projects since 2013.
- Global finance and allies: Highlights China’s digital yuan, 4.5 trillion yuan in swap lines (about $630 billion), and more than 1,700 banks on its Cross Border Interbank Payment System. These changes could reduce points of leverage the U.S. now has in global finance.
- Policymakers and partners: Urges monitoring of PRC moves, appropriate countermeasures, stronger economic ties with critical regions, and coordination with allies to promote market-based policies and stability in developing countries.
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Bill Overview
No Economic Impacts Identified for this Bill
Sponsors & CoSponsors
Sponsor
Budd, Ted [R-NC]
NC • R
Cosponsors
Sen. Shaheen, Jeanne [D-NH]
NH • D
Sponsored 4/30/2026
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov