Bills · HR 386
PASSED HOUSE· 119TH CONGRESS
House BillHR 386CurrencyChina
Chinese Currency Accountability Act of 2025
INTRO JAN 14· LAST ACTION FEB 11
READING
2MIN
COSPONSORS
1
READER REACTIONS0 TOTAL
NO VOTES YET · BE THE FIRST
- One chamber only
LEGISLATIVE PROGRESS
STEP 4 / 8Introduced
In Committee
Reported
Passed House
Passed Senate
Conference
To President
Became Law
WHAT THE BILL DOES
AI-writtenVoters should care about this bill because it touches on the global economic power balance and fair trade practices. By requiring the U.S. to oppose an increased role for China's currency in the IMF's Special Drawing Rights, the bill aims to ensure China adheres to international financial norms and prevents it from gaining more global influence if it's not playing by the rules, especially regarding currency manipulation. If this bill becomes law, the U.S. would officially use its international financial clout to pressure China on its economic practices. If it doesn't pass, the U.S. would retain more flexibility in how it approaches changes to the SDR basket, and China's currency could potentially gain a larger share even if the conditions outlined in this bill are not met, potentially altering global financial dynamics without the explicit U.S. conditions.
KEY PROVISIONS
4AI-extractedPROVISION 01
Requires the U.S. Treasury Secretary to instruct U.S. representatives at the International Monetary Fund (IMF) to oppose any increase in the Chinese renminbi's weight in the Special Drawing Rights (SDR) basket.
This provision directly dictates U.S. foreign financial policy concerning China's currency at a major international institution.
PROVISION 02
Allows the U.S. to *not* oppose the increase if the Treasury Secretary certifies to Congress that China is complying with IMF obligations, has not manipulated its currency, and adheres to international debt and export credit rules.
This sets specific conditions that China must meet, as judged by the U.S., before the U.S. would support a greater international role for the renminbi.
PROVISION 03
Specifies that the determination of currency manipulation must be based on reports submitted under the Omnibus Trade and Competitiveness Act of 1988 or the Trade Facilitation and Trade Enforcement Act of 2015.
This links the bill's requirements to existing U.S. legal frameworks for assessing currency practices.
PROVISION 04
Includes a 'sunset' clause, meaning the requirements of the bill will expire 10 years after its enactment.
This limits the duration of the policy, allowing for future reassessment without needing new legislation to repeal it.
SPONSORSHIP
1 + 1
R· Ohio
YRS IN OFFICE
10
BILLS LED
43
COSPONSOR BREAKDOWNBIPARTISAN · 0%
DEM 0 REP 1 IND 0
ACTION TIMELINE
9 EVENTSFEB 11
Received in the Senate and Read twice and referred to the Committee on Foreign Relations.
FEB 10
Mr. Hill (AR) moved to suspend the rules and pass the bill.
FEB 10
Considered under suspension of the rules. (consideration: CR H595-596)
FEB 10
DEBATE - The House proceeded with forty minutes of debate on H.R. 386.
BILL INFO
TypeHouse Bill
NumberHR 386
Congress119th
StatusPassed House
IntroducedJan 14, 2025
Last actionFeb 11, 2025
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PASSED HOUSE· 119TH CONGRESS · FINANCIAL SERVICES COMMITTEE · INTRODUCED JAN 14, 2025
House BillHR 386CurrencyChina
Chinese Currency Accountability Act of 2025
INTRODUCED JAN 14, 2025· LAST ACTION FEB 11, 2025
PASSAGE CHANCES
—%
READING
2 min
COSPONSORS
1
COMPLEXITY
Moderate
