Referred to the House Committee on Financial Services.
The Exchange Rate Accountability Act of 2026 requires the Treasury Secretary to report whether any of the IMF's 10 largest shareholder countries meet specified transparency, data, and exchange-rate behavior criteria at least 7 days before any proposal to increase that member's IMF quota.
If the Secretary finds a country fails those criteria, the United States must vote against increasing that country's IMF quota, unless the President issues a national-interest waiver with a written explanation.
The provision applies only to quota increases for top-10 shareholders and sunsets seven years after enactment.
Narrow, low-cost bill increases odds in the House but faces Senate cloture hurdles and potential executive resistance; modest overall chance.
Relative to its intended legislative type, this bill is a straightforward operational directive that assigns responsibilities and sets a reporting and veto/waiver structure for U.S. representation at the IMF. It specifies actors, timing, and oversight committees, but leaves several important implementation details undefined.
Progressive warns of multilateral damage; conservatives emphasize enforcement.
Progressive warns of multilateral damage; conservatives emphasize enforcement.
Likely sympathetic to enforcement of fair trade norms and better data transparency, but wary of unilateral or punitive approaches that could weaken multilateral institutions.
Would stress careful, evidence-based application to avoid harming global financial stability or poorer countries indirectly.
Concerned about process transparency and potential politicization of determinations.
Views the bill as a pragmatic tool to use U.S. IMF influence to enforce transparency and fair currency practices, but demands clear definitions and safeguards.
Concerned that vague criteria or frequent oppositions could impair IMF functioning, so support depends on operational clarity and preserving flexibility.
Generally supportive as a stronger, targeted mechanism to punish and deter currency manipulation by major IMF shareholders.
Sees this as protecting American industries and using U.S. leverage within multilateral institutions.
Favors firm enforcement, while valuing the presidential waiver for national-security flexibility.
Reached or meaningfully advanced
Reached or meaningfully advanced
Still ahead
Still ahead
Still ahead
Narrow, low-cost bill increases odds in the House but faces Senate cloture hurdles and potential executive resistance; modest overall chance.
The bill has not accumulated any surfaced votes yet.
Progressive warns of multilateral damage; conservatives emphasize enforcement.
Narrow, low-cost bill increases odds in the House but faces Senate cloture hurdles and potential executive resistance; modest overall chanc…
Relative to its intended legislative type, this bill is a straightforward operational directive that assigns responsibilities and sets a reporting and veto/waiver structure for U.S. representation at the IMF. It specifi…
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