H.R. 8290 would require the Secretary of the Treasury to report to the Congress on whether the People’s Republic of China (PRC) is complying with the International Monetary Fund’s (IMF’s) Articles of Agreement and is otherwise maintaining transparent and fair policies and practices concerning exchange rates. Such a report would be required whenever the IMF is scheduled to consider a proposal to increase the voting power of the PRC. The bill would direct the Secretary, in his role as U.S. Governor of the IMF, to oppose such a proposal if the PRC has failed to comply with those criteria. The bill’s requirements would expire after seven years.
On the basis of information about the costs of similar reports and diplomatic efforts to influence the actions of other nations and international organizations, CBO estimates that implementing H.R. 8290 would cost less than $500,000 over the 2026-2031 period. Any spending would be subject to the availability of appropriated funds.
The CBO staff contact for this estimate is David Rafferty. The estimate was reviewed by Christina Hawley Anthony, Deputy Director of Budget Analysis.
