Last progress May 22, 2025 (6 months ago)
Introduced on May 22, 2025 by David Harold McCormick
Read twice and referred to the Committee on Foreign Relations.
This bill tells the United States to push for fair treatment of Taiwan at the International Monetary Fund (IMF). It directs the U.S. representative at the IMF to support Taiwan’s membership if Taiwan seeks it, to include Taiwan in regular IMF economic checkups, to allow qualified Taiwan nationals to work at the IMF, and to provide Taiwan with technical help and training. It also says the U.S. should not discourage Taiwan from applying to join. These steps would end if Taiwan is admitted to the IMF or after 10 years, whichever comes first. The Treasury Secretary must report efforts each year for seven years during required testimony. A one-year waiver is allowed if it would help reach the goal of meaningful participation for Taiwan in international financial institutions.
The bill is based on findings that Taiwan has a large, connected economy and is active in global trade, even though it is not currently an IMF member. It notes Taiwan’s past ties to the IMF and long-standing U.S. policy to support Taiwan’s role in international groups.