Trade Equity and Growth Act of 1985

Summary

Trade Equity and Growth Act of 1985 - Declares that achievement of an orderly movement to lower and stable exchange rates for the dollar is a primary objective of U.S. economic policy. Directs the President to convene an international conference on the international monetary system to review the present system of floating exchange rates and to develop a consensus on reform of that system to provide for the long term exchange rate stability necessary for a strengthened world trade and financial system. Sets forth proposed reforms for study at such conference. Requires the President to report annually to the Congress on the progress made toward: (1) reducing the value of the dollar and stabilizing it on international markets through short term actions; and (2) adopting long-term reform of the system that will prevent future instability in international exchange rates. Prohibits the President from: (1) commencing multilateral negotiations under the General Agreement on Tariffs and Trade on reducing or eliminating tariffs and non-tariff barriers to trade until the conference is convened; or (2) concluding any trade agreement resulting from such nogotiations until the Congress receives its first annual report on progress in reforming the international monetary system. Directs the Secretary of the Treasury to: (1) report to the Congress, within 30 days of enactment of this Act, on the range of dollar exchange values that must be obtained if equilibrium in the current account deficits of the United States is to be restored by 1990; and (2) develop and implement mechanisms to achieve such equilibrium. Requires the Secretary to report on a quarterly basis to the Congress on developing and implementing such mechanisms.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 16 October 1985

   Introduced

   Referred to House Committee on Banking, Finance and Urban Affairs.

   Source: IntroReferral

2. 16 October 1985

   Referred

   Referred to Subcommittee on International Finance, Trade and Monetary Policy.

   Source: Committee

3. 16 October 1985

   Introduced

   Introduced in House

   Source: IntroReferral

4. 16 October 1985

   Introduced

   Introduced in House

   Source: IntroReferral

5. 21 October 1985

   Referred

   Referred to Subcommittee on Trade.

   Source: Committee

6. 14 November 1985

   Committee

   Subcommittee Hearings Held.

   Source: Committee

7. 19 November 1985

   Committee

   Subcommittee Hearings Held.

   Source: Committee

8. 4 December 1985

   Committee

   Subcommittee Consideration and Mark-up Session Held.

   Source: Committee

9. 10 December 1985

   Committee

   Forwarded by Subcommittee to Full Committee (Amended).

   Source: Committee

10. 10 December 1985

    Committee

    Subcommittee Consideration and Mark-up Session Held.

    Source: Committee

Votes

No vote records are attached yet.

Versions

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Documents

1 official file

• Introduced in House

  summary · EN · 16 October 1985

  Open at official source

Sponsors

• Rep. Lundine, Stanley N. [D-NY-34] · D · Sponsor
• Rep. Gephardt, Richard A. [D-MO-3] · D · Sponsor
• Rep. Bonker, Don [D-WA-3] · D · Sponsor
• Rep. Kaptur, Marcy [D-OH-9] · D · Cosponsor
• Rep. Pease, Donald J. [D-OH-13] · D · Cosponsor
• Rep. Alexander, Bill [D-AR-1] · D · Cosponsor
• Rep. Hughes, William J. [D-NJ-2] · D · Cosponsor
• Rep. Ortiz, Solomon P. [D-TX-27] · D · Cosponsor
• Sen. Carper, Thomas R. [D-DE] · D · Cosponsor
• Rep. Bonior, David E. [D-MI-10] · D · Cosponsor
• Rep. Richardson, Bill [D-NM-3] · D · Cosponsor
• Rep. Wilson, Charles [D-TX-2] · D · Cosponsor
• Rep. Seiberling, John F. [D-OH-14] · D · Cosponsor
• Rep. Martinez, Matthew G. [D-CA-31] · D · Cosponsor
• Rep. Sabo, Martin Olav [D-MN-5] · D · Cosponsor
• Rep. Vento, Bruce F. [D-MN-4] · D · Cosponsor
• Rep. Annunzio, Frank [D-IL-11] · D · Cosponsor
• Rep. Hubbard, Carroll, Jr. [D-KY-1] · D · Cosponsor
• Rep. Manton, Thomas J. [D-NY-7] · D · Cosponsor
• Rep. Frank, Barney [D-MA-4] · D · Cosponsor
• Rep. Barnard, Doug, Jr. [D-GA-10] · D · Cosponsor
• Rep. Mitchell, Parren J. [D-MD-7] · D · Cosponsor
• · hsba00 · Standing
• · hswm00 · Standing

Related records

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