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.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedOct 7, 2004
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
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.
Cosponsors 4
Members who signed on, in the order they did. All signed on Oct 7, 2004.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-CT | Christopher J. Dodd | Original | Oct 7, 2004 |
| D-MI | Debbie Stabenow | Original | Oct 7, 2004 |
| R-SC | Lindsey Graham | Original | Oct 7, 2004 |
| D-IL | Richard J. Durbin | Original | Oct 7, 2004 |
Actions 2
Everything that happened, newest first.
- Oct 7, 2004Introduced in Senate
- Oct 7, 2004Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Subjects
Assigned by the Library of Congress. Policy area: Foreign Trade and International Finance.
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.