Sponsor
Scott Perry
Representative · R-PA
Representative · R-PA
The bill increases congressional oversight and gives lawmakers rapid leverage to block or withdraw from multilateral lending seen as benefiting China—strengthening transparency and national-security tools—but at the cost of reduced U.S. influence at international financial institutions, heightened economic and diplomatic risks, and added administrative burdens.
Congress, taxpayers, and oversight officials gain substantially expanded and regular visibility and control over U.S. positions and transactions at the IMF, World Bank Group, and ADB through mandatory reports and explicit authority for Congress to direct U.S. stances.
The United States gains tools to block or limit debt-relief and lending measures that the U.S. assesses would benefit the People’s Republic of China, and greater transaction transparency that can inform sanctions and national-security policy.
The bill creates rapid-leverage mechanisms (including a 60-day withdrawal authority) intended to allow the U.S. to quickly stop membership or financial exposure if an institution takes actions judged to aid a geopolitical rival.
Forcing withdrawal or constraining U.S. negotiators and making changes effectively irreversible would reduce U.S. influence in shaping global lending rules and weaken Washington's ability to steer multilateral outcomes or coordinate with allies.
Limiting U.S. participation or blocking multilateral lending options risks reduced support for crisis-stressed countries and financial systems, which can increase global economic instability and harm U.S. trade, jobs, and small businesses.
The 60-day withdrawal timeline and new monthly reporting and oversight requirements will impose administrative, legal, and staff costs on the Treasury and other federal agencies to implement and maintain.
Based on analysis of 5 sections of legislative text.
Requires U.S. withdrawal from multilateral banks that provide debt relief benefiting China, directs IMF vote opposition, and mandates monthly China-related transaction reports to Congress.
Official title: To remove the United States from the International Monetary Fund, the World Bank Group, or the Asian Development Bank if such an institution assists in providing debt relief to the People's Republic of China, and for other purposes.
Introduced July 15, 2026 by Scott Perry · Last progress July 15, 2026
Requires the Treasury to pull the United States out of certain international financial institutions if those institutions provide debt relief that benefits the People’s Republic of China, directs the U.S. representative at the IMF to oppose such relief, and creates a monthly reporting requirement on transactions involving China. It also states a congressional-policy position that Congress may direct U.S. actions in international financial institutions. Sets timelines for withdrawal after notice, makes withdrawal permanent for institutions left under the bill, and requires regular reporting of loans, forgiven debt, and transfers involving China to Congress.