No More IMF Bailouts Act

Summary

No More IMF Bailouts Act - Amends the Bretton Woods Agreements Act to repeal authority to: (1) provide certain loans to the International Monetary Fund (IMF), including loans related to the New Arrangements to Borrow (NAB); (2) increase the U.S. quota in the IMF; and (3) approve the sale of IMF gold. Prohibits U.S. loans to the IMF for assistance to any European Union (EU) member state: (1) until the ratio of the total outstanding public debt of each member state to its gross domestic product (as of the end of the most recent fiscal year of the member state ending in the preceding calendar year) is not more than 60%; or (2) for any new credit or liquidity facility, or any new special purpose vehicle, related to European financial stability. Directs the Secretary of the Treasury to instruct the U.S. Executive Director of the IMF to use U.S. influence to oppose any IMF financing: (1) to any EU member state until the ratio of the total outstanding public debt of each member state to its gross domestic product (as of the end of the most recent fiscal year of the member state ending in the preceding calendar year) is not more than 60%; or (2) for any new credit or liquidity facility, or any new special purpose vehicle, related to European financial stability. Expresses the sense of Congress that Congress should not approve legislation to implement the December 15, 2010, vote of the IMF Board of Governors to double the U.S. quota in the IMF.

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

Timeline

1. 8 December 2011

   Introduced

   Read twice and referred to the Committee on Foreign Relations.

   Source: IntroReferral

2. 8 December 2011

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 8 December 2011 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 8 December 2011

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 8 December 2011

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 8 December 2011

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. DeMint, Jim [R-SC] · R · Sponsor
• Sen. Cornyn, John [R-TX] · R · Sponsor
• Sen. Vitter, David [R-LA] · R · Sponsor
• Sen. Toomey, Patrick [R-PA] · R · Sponsor
• Sen. Risch, James E. [R-ID] · R · Sponsor
• Sen. Ayotte, Kelly [R-NH] · R · Sponsor
• Sen. Johnson, Ron [R-WI] · R · Sponsor
• Sen. Lee, Mike [R-UT] · R · Sponsor
• Sen. Paul, Rand [R-KY] · R · Sponsor
• Sen. Blunt, Roy [R-MO] · R · Sponsor
• Sen. Hatch, Orrin G. [R-UT] · R · Sponsor
• Sen. Boozman, John [R-AR] · R · Sponsor
• Sen. Graham, Lindsey [R-SC] · R · Sponsor
• Sen. Kyl, Jon [R-AZ] · R · Sponsor
• Sen. Hutchison, Kay Bailey [R-TX] · R · Sponsor
• Sen. Crapo, Mike [R-ID] · R · Sponsor
• Sen. Inhofe, James M. [R-OK] · R · Sponsor
• Sen. Barrasso, John [R-WY] · R · Sponsor
• Sen. Chambliss, Saxby [R-GA] · R · Sponsor
• Sen. Coburn, Tom [R-OK] · R · Sponsor
• Sen. Thune, John [R-SD] · R · Sponsor
• Sen. Burr, Richard [R-NC] · R · Sponsor
• Sen. Heller, Dean [R-NV] · R · Sponsor
• Sen. Rubio, Marco [R-FL] · R · Sponsor
• Sen. Johanns, Mike [R-NE] · R · Sponsor
• Sen. Sessions, Jeff [R-AL] · R · Sponsor
• · ssfr00 · Standing

Related records

• related to → To repeal the authority to provide certain loans to the International Monetary Fund, the increase in the United States quota in that Fund, and certain other authorities, and to rescind related appropriations.
• related to → A bill to repeal the authority to provide certain loans to the International Monetary Fund, the increase in the United States quota to the Fund, and certain other related authorities, to rescind related appropriated amounts, and for other purposes.