US SB67 | 2021-2022 | 117th Congress
Status
Spectrum: Moderate Partisan Bill (Democrat 7-1)
Status: Introduced on January 27 2021 - 25% progression
Action: 2021-01-27 - Read twice and referred to the Committee on Foreign Relations. (text: CR S177-178)
Pending: Senate Foreign Relations Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on January 27 2021 - 25% progression
Action: 2021-01-27 - Read twice and referred to the Committee on Foreign Relations. (text: CR S177-178)
Pending: Senate Foreign Relations Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Requires each U.S. Executive Director at an international financial institution to take certain actions in support of the global response to COVID-19 (i.e., coronavirus disease 2019). Specifically, each U.S. Executive Director at an international financial institution (e.g., the International Bank for Reconstruction and Development or the International Finance Corporation) must seek the suspension of debt service payments to the institution and the relaxation of fiscal targets for certain programs, oppose programs or loan agreements that would reduce countries' health care spending or other spending related to their responses to COVID-19, and require approval of all Special Drawing Rights (a currency support tool) allocation transfers from wealthier member countries to countries that are emerging or developing to ensure the allocations are used for the public good and in response to the global pandemic. Further, the U.S. Executive Director at the International Monetary Fund must support the issuance of Special Drawing Rights so that governments may access additional resources to finance their responses to COVID-19.
Title
Support for Global Financial Institution Pandemic Response Act of 2021
Sponsors
Sen. Richard Durbin [D-IL] | Sen. Bernard Sanders [I-VT] | Sen. Jack Reed [D-RI] | Sen. Benjamin Cardin [D-MD] |
Sen. Jeff Merkley [D-OR] | Sen. Patrick Leahy [D-VT] | Sen. Ron Wyden [D-OR] | Sen. Alex Padilla [D-CA] |
History
Date | Chamber | Action |
---|---|---|
2021-01-27 | Senate | Read twice and referred to the Committee on Foreign Relations. (text: CR S177-178) |
Subjects
Budget deficits and national debt
Cardiovascular and respiratory health
Congressional oversight
Debt collection
Diplomacy, foreign officials, Americans abroad
Economic development
Economic performance and conditions
Emergency medical services and trauma care
Foreign aid and international relief
Foreign loans and debt
Health programs administration and funding
Infectious and parasitic diseases
International affairs
International monetary system and foreign exchange
International organizations and cooperation
Multilateral development programs
World health
Cardiovascular and respiratory health
Congressional oversight
Debt collection
Diplomacy, foreign officials, Americans abroad
Economic development
Economic performance and conditions
Emergency medical services and trauma care
Foreign aid and international relief
Foreign loans and debt
Health programs administration and funding
Infectious and parasitic diseases
International affairs
International monetary system and foreign exchange
International organizations and cooperation
Multilateral development programs
World health
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/117th-congress/senate-bill/67/all-info |
Text | https://www.congress.gov/117/bills/s67/BILLS-117s67is.pdf |