S. 2927 · 108th Congress
A bill to amend the Exchange Rates and International Economic Policy Coordination Act of 1988 to clarify the…
Full title
A bill to amend the Exchange Rates and International Economic Policy Coordination Act of 1988 to clarify the definition of manipulation with respect to currency, and for other purposes.
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Never voted on. It didn't reach a floor vote before the 108th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
SchumerSponsor4 cosponsors · 3 D, 1 R
4 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Amends the Exchange Rates and International Economic Policy Coordination Act of 1988 with respect to bilateral negotiations with countries considered to manipulate the rate of exchange between their currency and the U.S. dollar for purposes of preventing effective balance of payments adjustments or gaining unfair competitive advantage in international trade.
What it does: CRS summary · Introduced in Senate · Oct 7, 2004
Amends the Exchange Rates and International Economic Policy Coordination Act of 1988 with respect to bilateral negotiations with countries considered to manipulate the rate of exchange between their currency and the U.S. dollar for purposes of preventing effective balance of payments adjustments or gaining unfair competitive advantage in international trade.
Reduces the preconditions for the initiation of negotiations by the Secretary of the Treasury to possession of significant bilateral trade surpluses with the United States (removing the other current condition of possession of material global current account surpluses).
Declares that a country shall be considered to be manipulating the rate of exchange between its currency and the U.S. dollar if there is a protracted large-scale intervention in one direction in the exchange markets.
Requires the Secretary's annual report to specified congressional committees on international economic policy to include a detailed explanation of the test the Secretary uses to determine whether or not a country is manipulating the rate of exchange.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: A bill to amend the Exchange Rates and International Economic Policy Coordination Act of 1988 to clarify the definition of manipulation with respect to currency, and for other purposes.
Latest action (Oct 7, 2004): Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Policy area: Foreign Trade and International Finance · Origin: Senate · Introduced: Oct 7, 2004
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.