H.R. 3042, Millennium Challenge Corporation Candidate Country Reform Act
As ordered reported by the House Committee on Foreign Affairs on July 11, 2024
By Fiscal Year, Millions of Dollars
2024
2024-2029
2024-2034
Direct Spending (Outlays)
0
0
0
Revenues
0
0
0
Increase or Decrease (-) in the Deficit
0
0
0
Spending Subject to Appropriation (Outlays)
0
*
not estimated
Increases net direct spending in any of the four consecutive 10-year periods beginning in 2035?
No
Statutory pay-as-you-go procedures apply?
No
Mandate Effects
Increases on-budget deficits in any of the four consecutive 10-year periods beginning in 2035?
No
Contains intergovernmental mandate?
No
Contains private-sector mandate?
No
* = between zero and $500,000.
Summary
H.R. 3042 would expand the pool of countries that are candidates for assistance from the Millennium Challenge Corporation (MCC). It also would require the corporation to report on efforts to undermine MCC programs by entities such as the People’s Republic of China. MCC provides grants to promote economic growth and reduce poverty in developing countries that demonstrate good governance, free markets, and robust investments in education, public health, and the environment. MCC evaluates candidate countries using those criteria and selects an average of two eligible countries each year.