HR 7244 · 96th Congress · Foreign Trade and International Finance

A bill to amend the Bretton Woods Agreements Act to authorize consent to an increase in the United States quota in the International Monetary Fund, and for other purposes.

Introduced 1980-05-01· Sponsored by Rep. Neal, Stephen L. [D-NC-5]· House

Bill Progress

Introduced
Committee
House Vote
4
Senate
5
Enacted
Latest: Measure laid on table in House, S. 2271 passed in lieu.(1980-09-18)

Recorded Votes

PassedHouse · 1980-09-18
Yea 199Nay 151
PassedHouse · 1980-09-18
Yea 199Nay 151

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Bretton Woods Agreements Act to authorize the U.S. Governor of the International Monetary Fund to consent to an increase in the U.S. quota in the Fund to the extent provided in appropriation Acts. Directs the President to instruct the Secretaries of the Treasury and State and other appropriate Federal officials to encourage countries to safeguard jobs, investment, income redistribution programs, and social programs in formulating economic adjustment programs to deal with their balance of payments difficulties. Directs U.S. representatives to the Fund to: (1) seek decisions by the Fund to permit the extension of standby arrangements to enable Fund members to implement their adjustment programs successfully; (2) work for programs to promote employment, investment, real income per capita, income redistribution, and social programs and to ameliorate any adverse effects of economic adjustment programs on the poor; (3) seek coordination of Fund and World Bank financing activities to safeguard basic human needs and facilitate development of a productive economic base; and (4) request periodic analyses of the effects of economic adjustment programs supported by Fund or Bank fina…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (8)

5 Democrats3 Republicans