To amend the Federal Credit Reform Act of 1990 to require appropriations to cover the estimated subsidy costs of monetary resources provided by the United States Government to the International Monetary Fund, and for other purposes.
Latest action. Referred to the subcommitteeA smaller panel inside a standing committee with jurisdiction over a slice of its subject matter. Most hearings and the first markup usually happen here.Read the full definition (opens a new tab) on Domestic and International monetary policyCentral bank action on interest rates and the money supply to influence inflation and employment. Distinct from fiscal policy, which is taxing and spending.Read the full definition (opens a new tab), Trade, and Technology.
Amends the Federal Credit Reform Act of 1990 to declare that, beginning with FY 2007, no appropriation may be made for an increase in the quota of the United States in the International Monetary Fund (IMF) unless it includes new budget authority sufficient to cover the estimated costs to the United States of providing direct loans, loan guarantees, other financing mechanisms (and their modifications) made by or through the IMF to IMF borrowing nations at interest rates below the cost to the Government after appropriate adjustments for maturity and credit risk.
Requires the expenditures in the President's budget to reflect the costs to the Government of providing credit to IMF borrowing nations at such interest rates.
Written by analysts at the Congressional Research Service and published on Congress.gov, not by Civibrief. Summarized at the "Introduced in House" stage on June 23, 2005. It describes the bill, it is not the legal text.
Where is it in the process, and what happens next?
4 steps remain before this bill could become law.
The record's latest action, on July 29, 2005: Referred to the Subcommittee on Domestic and International Monetary Policy, Trade, and Technology.
- Clearing the committees it was referred to, and being scheduled for a floor vote
- Passage by the House
- Passage by the Senate
- The President's signature. If the President vetoes it, two-thirds of both chambers must vote to override.
How likely is it to become law?
Civibrief does not forecast outcomes and this page has no opinion about this one. What the record supports is a base rate, which is a fact about the whole pile, not a prediction about this measure.
In the 109th Congress (2005-06), 482 of the 10,701 bills and joint resolutions introduced became law, about 4.5 percent. That count covers every measure at every stage, including the many that never left committee.
This one is not there yet: 4 steps are still outstanding, listed above.
Has anyone actually voted on it?
No. No roll call in this Congress cites this measure. That is the ordinary outcome: most measures never reach a recorded floor vote, and a committee ends most of them simply by not acting.
A vote is not the only thing that happens to a measure. Hearings, markups, and referrals are all recorded actions, and none of them is a vote of the full chamber.
Who is behind it?
H. SAXTON (R-NJ) introduced it on June 23, 2005. No cosponsors are recorded.
Cosponsoring is a formal signature on the text. It is not a commitment to vote for the measure, it does not bind anyone's party, and a long list of cosponsors is a measure of attention rather than of prospects.
How long has it been in play?
It was introduced on June 23, 2005, 7749 days ago. The most recent recorded action was 7713 days ago, on July 29, 2005.
Measures do not carry over. Anything the 109th Congress has not finished by January 3, 2007 dies when the term ends, and has to be introduced again from the start in the next Congress.
Every answer above is assembled from this measure's own record on Congress.gov and from published counts of what Congress has passed before. Civibrief does not predict outcomes and takes no position on any measure.
Vote history
- HouseIn committee, no floor vote yet
- SenateAwaits House passage
- PresidentAwaits both chambers