Us Congress 2023-2024 Regular Session

Us Congress House Bill HB2546

Introduced
4/10/23  

Caption

To provide for the development and implementation of economic defense response teams.

Impact

The passage of HB2546 could significantly change how the United States engages with other nations in times of economic crisis. By establishing a formalized structure for responding to coercive economic actions, the bill would institutionalize U.S. involvement in international economic defense scenarios. The bill envisions a collaborative approach, involving various federal departments, including State, Treasury, and Commerce, to ensure a multi-faceted response to economic threats. Consequently, this could lead to stronger international partnerships and a heightened presence of U.S. influence in global economic matters.

Summary

House Bill 2546 proposes the creation and implementation of deployable economic defense response teams aimed at assisting countries threatened by economic coercion. This bill mandates the President, through the Secretary of State, to develop a pilot program to operationalize these teams within 180 days of enactment. The teams would focus on providing emergency technical assistance and support, reducing partner countries' vulnerabilities, and facilitating responses to coercive measures from adversarial nations. The overall intent is to support allies and partners in maintaining their economic integrity and sovereignty in the face of external pressures.

Contention

Notable discussions surrounding HB2546 may revolve around the balance of U.S. intervention in foreign affairs and the effectiveness of such economic defense teams. Critics may express concerns about the potential for overreach or unintended consequences from increased U.S. involvement in other countries' economic issues. Furthermore, debates may arise regarding the scope of assistance provided and whether such programs could entangle the U.S. in complex international disputes, thereby affecting its diplomatic relations with other countries.

Companion Bills

US SB367

Related ECON Act Economic and Commercial Opportunities and Networks Act of 2023

Previously Filed As

US SB367

ECON Act Economic and Commercial Opportunities and Networks Act of 2023

US HB5565

BRIDGE Act Build Responsible Infrastructure Development for the Global Economy Act

US HB4690

Gray Zone Defense Assessment Act

US SB5491

A bill to mobilize United States strategic, economic, and diplomatic tools to confront the challenges posed by the People's Republic of China and to set a positive agenda for United States economic and diplomatic efforts abroad, and for other purposes.

US HB9729

Overseas CRISIS Act Overseas Crisis Response Implementation System and Immediate Strategy Act

US HB7710

Locally Led Development and Humanitarian Response Act

US HB1114

L’Ouverture Economic Development Plan for Haiti Act of 2025

US HB1680

Black Sea Security Act of 2023

US HB4175

REPO for Ukrainians Act Rebuilding Economic Prosperity and Opportunity for Ukrainians Act

US HB447

Medical Manufacturing, Economic Development, and Sustainability Act of 2023 or the MMEDS Act of 2023 This bill provides incentives for relocating medical manufacturing facilities in the United States and for manufacturing medical products (i.e., drugs and devices) in economically distressed zones. Specifically, the bill allows a income tax credit for 40% of the sum of wages paid in a medical manufacturing economically distressed zone, employee fringe benefit expenses, and depreciation and amortization allowances with respect to qualified medical manufacturing facility property, and a credit for economically distressed zone products and services acquired by domestic medical manufacturers. The bill increases the credit rate for minority businesses.

Similar Bills

No similar bills found.