What does Preamble of Exchange Rate Accountability Act of 2026 do?

This bill, formally titled 'To require the use of the voice and vote of the United States to oppose any quota increase at the International Monetary Fund for member countries that employ certain exchange rate practices, and for other purposes,' aims to direct the United States to oppose quota increases at the International Monetary Fund (IMF).

What does SHORT TITLE. of Exchange Rate Accountability Act of 2026 do?

This bill is formally titled Exchange Rate Accountability Act of 2026

What does OPPOSITION TO IMF QUOTA INCREASE FOR COUNTRIES THAT UNDERMINE of Exchange Rate Accountability Act of 2026 do?

This section amends the Bretton Woods Agreements Act to add Section 75. Section 75 establishes a process for the Secretary of the Treasury to evaluate whether a foreign member of the International Monetary Fund (IMF) meets certain criteria related to trade practices. The Secretary must submit a report to the House and Senate committees before consideration of a quota increase for the 10 largest shareholders in the IMF. Criteria include adherence to Article VIII obligations, transparent exchange rate policies, credible balance of payments data, and avoiding currency manipulation for competitive advantage. If a member fails to meet these criteria, the Secretary must instruct the U.S. Governor to oppose the quota increase. The President can waive this opposition if deemed in the national interest, with a report to Congress. This section sunsets seven years after the Act's enactment.

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Exchange Rate Accountability Act of 2026

Last updated: 4/21/2026 · Introduced: 4/15/2026

Author: Pete Sessions (R-TX)

TL;DR (AI)

This bill directs the U.S. to oppose quota increases for the ten largest shareholders of the International Monetary Fund (IMF) if those countries are found to have trade practices that undermine fair competition.
The Secretary of the Treasury will evaluate IMF member countries based on criteria including exchange rate transparency, balance of payments data credibility, and adherence to international agreements.
The President can waive opposition to an IMF quota increase if it is deemed to be in the national interest, requiring a report to Congress.

119th Congressin committeeOfficial page

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Other Sections

Includes provisions on preamble, short title., and 1 more.

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