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118th Congress Foreign Trade and International Finance

H.R. 510: Chinese Currency Accountability Act of 2023

Passed HouseSep 9, 2024

  1. Introduced (completed)Jan 25, 2023
  2. Passed House (completed)Sep 9, 2024
  3. Passed Senate (not reached)
  4. To the President (not reached)
  5. Became law (not reached)

Summary

Reported to House, Dec 1, 2023

This bill requires the United States to oppose, absent specified conditions, any increase in the weight of Chinese currency (i.e., the renminbi) in the basket of currencies (currently, a set of five currencies, each with different weightings) used to determine the value of Special Drawing Rights. Special Drawing Rights are a currency support tool available to members of the International Monetary Fund (IMF).

Specifically, the Department of the Treasury must instruct certain U.S. officials at the IMF to oppose any such increase unless Treasury has certified that China is in compliance with certain standards and international agreements, including that (1) China is in compliance with all general obligations of members of the IMF, and (2) China has not been found to have manipulated its currency in the preceding 12 months.

Written by the Congressional Research Service, Library of Congress.

Roll calls

0 votes on this bill

No roll call votes have been held on this bill.

Amendments

0 offered

No amendments were offered to this bill.

Cosponsors

2

Bipartisan support.

Who scored on this bill

64 points earned
  1. 1Warren Davidson R-OH SponsorIntroduced, drew cross-party cosponsors, reported, passed House4 events+56
  2. 2Michael Lawler R-NYCosponsored; cosponsored bill passed2 events+4
  3. 2Susie Lee D-NVCosponsored; cosponsored bill passed2 events+4
See all scorers and every scoring event

Introductions and cosponsorships count toward weekly caps and show no points.

Other bills by Warren Davidson

History

  1. Sep 9, 2024Passed the House by voice vote.
  2. Jan 25, 2023Introduced in the House by Warren Davidson.
Show the full action history (13 actions)
  1. Sep 10, 2024Received in the Senate and Read twice and referred to the Committee on Foreign Relations.
  2. Sep 9, 2024Mrs. Kim (CA) moved to suspend the rules and pass the bill, as amended.
  3. Sep 9, 2024Considered under suspension of the rules. (consideration: CR H5041-5042)
  4. Sep 9, 2024DEBATE - The House proceeded with forty minutes of debate on H.R. 510.
  5. Sep 9, 2024Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H5041)
  6. Sep 9, 2024On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H5041)
  7. Sep 9, 2024Motion to reconsider laid on the table Agreed to without objection.
  8. Dec 1, 2023Reported (Amended) by the Committee on Financial Services. H. Rept. 118-294.
  9. Dec 1, 2023Placed on the Union Calendar, Calendar No. 238.
  10. Feb 28, 2023Committee Consideration and Mark-up Session Held.
  11. Feb 28, 2023Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 40 - 0.
  12. Jan 25, 2023Introduced in House
  13. Jan 25, 2023Referred to the House Committee on Financial Services.