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Us Congress House Bill HB910

Us Congress 2025-2026 Regular Session

Us Congress House Bill HB910 Compare Versions

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1-IB
2-Union Calendar No. 10
1+I
32 119THCONGRESS
43 1
54 STSESSION H. R. 910
6-[Report No. 119–20]
75 To require the Secretary of the Treasury to pursue more equitable treatment
86 of Taiwan at the international financial institutions, and for other purposes.
97 IN THE HOUSE OF REPRESENTATIVES
108 FEBRUARY4, 2025
119 Mrs. K
1210 IM(for herself and Mr. GREENof Texas) introduced the following bill;
1311 which was referred to the Committee on Financial Services
14-M
15-ARCH21, 2025
16-Additional sponsors: Mr. L
17-AWLERand Mr. LIEU
18-M
19-ARCH21, 2025
20-Reported with an amendment, committed to the Committee of the Whole
21-House on the State of the Union, and ordered to be printed
22-[Strike out all after the enacting clause and insert the part printed in italic]
23-[For text of introduced bill, see copy of bill as introduced on February 4, 2025]
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26-•HR 910 RH
2712 A BILL
2813 To require the Secretary of the Treasury to pursue more
2914 equitable treatment of Taiwan at the international finan-
3015 cial institutions, and for other purposes.
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3416 Be it enacted by the Senate and House of Representa-1
3517 tives of the United States of America in Congress assembled, 2
3618 SECTION 1. SHORT TITLE. 3
3719 This Act may be cited as the ‘‘Taiwan Non-Discrimi-4
3820 nation Act of 2025’’. 5
3921 SEC. 2. FINDINGS. 6
4022 Congress finds as follows: 7
41-(1) As enshrined in its Articles of Agreement, the 8
42-International Monetary Fund (IMF) is devoted to 9
43-promoting international monetary cooperation, facili-10
44-tating the expansion and balanced growth of inter-11
45-national trade, encouraging exchange stability, and 12
46-avoiding competitive exchange depreciation. 13
47-(2) Taiwan is the 21st largest economy in the 14
48-world and the 10th largest goods trading partner of 15
49-the United States. 16
50-(3) Although Taiwan is not an IMF member, it 17
51-is a member of the World Trade Organization, the 18
52-Asian Development Bank, and the Asia-Pacific Eco-19
53-nomic Cooperation forum. 20
54-(4) According to the January 2020 Report on 21
55-Macroeconomic and Foreign Exchange Policies of 22
56-Major Trading Partners of the United States, pub-23
57-lished by the Department of the Treasury, Taiwan 24
58-held $471,900,000,000 in foreign exchange reserves, 25
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23+(1) As enshrined in its Articles of Agreement, 8
24+the International Monetary Fund (IMF) is devoted 9
25+to promoting international monetary cooperation, fa-10
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28+•HR 910 IH
29+cilitating the expansion and balanced growth of 1
30+international trade, encouraging exchange stability, 2
31+and avoiding competitive exchange depreciation. 3
32+(2) Taiwan is the 21st largest economy in the 4
33+world and the 10th largest goods trading partner of 5
34+the United States. 6
35+(3) Although Taiwan is not an IMF member, it 7
36+is a member of the World Trade Organization, the 8
37+Asian Development Bank, and the Asia-Pacific Eco-9
38+nomic Cooperation forum. 10
39+(4) According to the January 2020 Report on 11
40+Macroeconomic and Foreign Exchange Policies of 12
41+Major Trading Partners of the United States, pub-13
42+lished by the Department of the Treasury, Taiwan 14
43+held $471,900,000,000 in foreign exchange reserves, 15
44+more than major economies such as India, South 16
45+Korea, and Brazil. 17
46+(5) According to section 4(d) of the Taiwan Re-18
47+lations Act (Public Law 96–8), enacted on April 10, 19
48+1979, ‘‘Nothing in this Act may be construed as a 20
49+basis for supporting the exclusion or expulsion of 21
50+Taiwan from continued membership in any inter-22
51+national financial institution or any other inter-23
52+national organization.’’. 24
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56+(6) Taiwan held membership in the IMF for 9 1
57+years following the recognition of the People’s Re-2
58+public of China (PRC) by the United Nations, and 3
59+16 Taiwan staff members at the Fund were allowed 4
60+to continue their employment after the PRC was 5
61+seated at the IMF in 1980. As James M. Boughton 6
62+has noted in his Silent Revolution: The International 7
63+Monetary Fund 1979–1989, even as the PRC was 8
64+seated, the United States Executive Director to the 9
65+IMF, Sam Y. Cross, expressed support on behalf of 10
66+the United States Government for ‘‘some kind of as-11
67+sociation between Taiwan and the Fund’’. 12
68+(7) On September 27, 1994, in testimony be-13
69+fore the Senate Committee on Foreign Relations re-14
70+garding the 1994 Taiwan Policy Review, then-As-15
71+sistant Secretary of State for East Asian and Pacific 16
72+Affairs Winston Lord stated: ‘‘Recognizing Taiwan’s 17
73+important role in transnational issues, we will sup-18
74+port its membership in organizations where state-19
75+hood is not a prerequisite, and we will support op-20
76+portunities for Taiwan’s voice to be heard in organi-21
77+zations where its membership is not possible.’’. 22
78+(8) The Congress has repeatedly reaffirmed 23
79+support for this policy, including in Public Laws 24
80+107–10, 107–158, 108–28, 108–235, 113–17, and 25
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61-•HR 910 RH
62-more than major economies such as India, South 1
63-Korea, and Brazil. 2
64-(5) According to section 4(d) of the Taiwan Re-3
65-lations Act (Public Law 96–8), enacted on April 10, 4
66-1979, ‘‘Nothing in this Act may be construed as a 5
67-basis for supporting the exclusion or expulsion of Tai-6
68-wan from continued membership in any international 7
69-financial institution or any other international orga-8
70-nization.’’. 9
71-(6) Taiwan held membership in the IMF for 9 10
72-years following the recognition of the People’s Repub-11
73-lic of China (PRC) by the United Nations, and 16 12
74-Taiwan staff members at the Fund were allowed to 13
75-continue their employment after the PRC was seated 14
76-at the IMF in 1980. As James M. Boughton has noted 15
77-in his Silent Revolution: The International Monetary 16
78-Fund 1979–1989, even as the PRC was seated, the 17
79-United States Executive Director to the IMF, Sam Y. 18
80-Cross, expressed support on behalf of the United 19
81-States Government for ‘‘some kind of association be-20
82-tween Taiwan and the Fund’’. 21
83-(7) On September 27, 1994, in testimony before 22
84-the Senate Committee on Foreign Relations regarding 23
85-the 1994 Taiwan Policy Review, then-Assistant Sec-24
86-retary of State for East Asian and Pacific Affairs 25
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84+114–139, and the unanimous House and Senate 1
85+passage of the Taiwan Allies International Protec-2
86+tion and Enhancement Initiative (TAIPEI) Act of 3
87+2019. 4
88+(9) In its fact sheet, entitled ‘‘U.S. Relations 5
89+with Taiwan’’, published on August 31, 2018, the 6
90+Department of State asserts: ‘‘The United States 7
91+supports Taiwan’s membership in international orga-8
92+nizations that do not require statehood as a condi-9
93+tion of membership and encourages Taiwan’s mean-10
94+ingful participation in international organizations 11
95+where its membership is not possible.’’. 12
96+(10) According to the Articles of Agreement of 13
97+the IMF, ‘‘membership shall be open to other coun-14
98+tries’’, subject to conditions prescribed by the Board 15
99+of Governors of the IMF. 16
100+(11) In the IMF publication ‘‘Membership and 17
101+Nonmembership in the International Monetary 18
102+Fund: A Study in International Law and Organiza-19
103+tion’’, Joseph Gold, the then-General Counsel and 20
104+Director of the Legal Department of the IMF, elabo-21
105+rated on the differences between the terms ‘‘coun-22
106+tries’’ and ‘‘states’’, noting that ‘‘the word ‘country’ 23
107+may have been adopted because of the absence of 24
108+agreement on the definition of a ‘state’’’ and, with 25
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89-•HR 910 RH
90-Winston Lord stated: ‘‘Recognizing Taiwan’s impor-1
91-tant role in transnational issues, we will support its 2
92-membership in organizations where statehood is not a 3
93-prerequisite, and we will support opportunities for 4
94-Taiwan’s voice to be heard in organizations where its 5
95-membership is not possible.’’. 6
96-(8) The Congress has repeatedly reaffirmed sup-7
97-port for this policy, including in Public Laws 107– 8
98-10, 107–158, 108–28, 108–235, 113–17, and 114–139, 9
99-and the unanimous House and Senate passage of the 10
100-Taiwan Allies International Protection and Enhance-11
101-ment Initiative (TAIPEI) Act of 2019. 12
102-(9) In its fact sheet, entitled ‘‘U.S. Relations 13
103-with Taiwan’’, published on August 31, 2018, the De-14
104-partment of State asserts: ‘‘The United States sup-15
105-ports Taiwan’s membership in international organi-16
106-zations that do not require statehood as a condition 17
107-of membership and encourages Taiwan’s meaningful 18
108-participation in international organizations where its 19
109-membership is not possible.’’. 20
110-(10) According to the Articles of Agreement of 21
111-the IMF, ‘‘membership shall be open to other coun-22
112-tries’’, subject to conditions prescribed by the Board 23
113-of Governors of the IMF. 24
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112+respect to the use of ‘‘countries’’ and applications 1
113+for IMF membership, ‘‘the absence of any adjective 2
114+in the Articles emphasizes the breadth of the discre-3
115+tion that the Fund may exercise in admitting coun-4
116+tries to membership’’. According to Mr. Gold, ‘‘the 5
117+desire to give the Fund flexibility in dealing with ap-6
118+plications may explain not only the absence of any 7
119+adjective that qualifies ‘countries’ but also the choice 8
120+of that word itself’’. 9
121+(12) In his IMF study, Mr. Gold further ob-10
122+serves, ‘‘in the practice of the Fund the concepts of 11
123+independence and sovereignty have been avoided on 12
124+the whole as a mode of expressing a criterion for 13
125+membership in the Fund’’. He continues, ‘‘Although 14
126+the Fund usually takes into account the recognition 15
127+or nonrecognition of an entity as a state, there are 16
128+no rules or even informal understandings on the ex-17
129+tent to which an applicant must have been recog-18
130+nized by members or other international organiza-19
131+tions before the Fund will regard it as eligible for 20
132+membership.’’. In fact, when considering an applica-21
133+tion for membership where the status of an appli-22
134+cant may not be resolved, Mr. Gold writes ‘‘there 23
135+have been occasions on which the Fund has made a 24
136+finding before decisions had been taken by the 25
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116-•HR 910 RH
117-(11) In the IMF publication ‘‘Membership and 1
118-Nonmembership in the International Monetary Fund: 2
119-A Study in International Law and Organization’’, 3
120-Joseph Gold, the then-General Counsel and Director 4
121-of the Legal Department of the IMF, elaborated on the 5
122-differences between the terms ‘‘countries’’ and 6
123-‘‘states’’, noting that ‘‘the word ‘country’ may have 7
124-been adopted because of the absence of agreement on 8
125-the definition of a ‘state’’’ and, with respect to the use 9
126-of ‘‘countries’’ and applications for IMF membership, 10
127-‘‘the absence of any adjective in the Articles empha-11
128-sizes the breadth of the discretion that the Fund may 12
129-exercise in admitting countries to membership’’. Ac-13
130-cording to Mr. Gold, ‘‘the desire to give the Fund 14
131-flexibility in dealing with applications may explain 15
132-not only the absence of any adjective that qualifies 16
133-‘countries’ but also the choice of that word itself’’. 17
134-(12) In his IMF study, Mr. Gold further ob-18
135-serves, ‘‘in the practice of the Fund the concepts of 19
136-independence and sovereignty have been avoided on 20
137-the whole as a mode of expressing a criterion for 21
138-membership in the Fund’’. He continues, ‘‘Although 22
139-the Fund usually takes into account the recognition 23
140-or nonrecognition of an entity as a state, there are no 24
141-rules or even informal understandings on the extent 25
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139+•HR 910 IH
140+United Nations or by most members or by members 1
141+with a majority of the total voting power.’’ Mr. Gold 2
142+concludes, ‘‘the Fund makes its own findings on 3
143+whether an applicant is a ‘country’, and makes them 4
144+solely for its own purposes.’’. 5
145+(13) Although not a member state of the 6
146+United Nations, the Republic of Kosovo is a member 7
147+of both the IMF and the World Bank, having joined 8
148+both organizations on June 29, 2009. 9
149+(14) On October 26, 2021, Secretary of State 10
150+Antony Blinken issued a statement in support of 11
151+Taiwan’s ‘‘robust, meaningful participation’’ in the 12
152+United Nations system, which includes the IMF, the 13
153+World Bank, and other specialized United Nations 14
154+agencies. Secretary of State Blinken noted, ‘‘As the 15
155+international community faces an unprecedented 16
156+number of complex and global issues, it is critical for 17
157+all stakeholders to help address these problems. This 18
158+includes the 24 million people who live in Taiwan. 19
159+Taiwan’s meaningful participation in the UN system 20
160+is not a political issue, but a pragmatic one.’’. He 21
161+continued, ‘‘Taiwan’s exclusion undermines the im-22
162+portant work of the UN and its related bodies, all 23
163+of which stand to benefit greatly from its contribu-24
164+tions.’’. 25
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144-•HR 910 RH
145-to which an applicant must have been recognized by 1
146-members or other international organizations before 2
147-the Fund will regard it as eligible for membership.’’. 3
148-In fact, when considering an application for member-4
149-ship where the status of an applicant may not be re-5
150-solved, Mr. Gold writes ‘‘there have been occasions on 6
151-which the Fund has made a finding before decisions 7
152-had been taken by the United Nations or by most 8
153-members or by members with a majority of the total 9
154-voting power.’’ Mr. Gold concludes, ‘‘the Fund makes 10
155-its own findings on whether an applicant is a ‘coun-11
156-try’, and makes them solely for its own purposes.’’. 12
157-(13) Although not a member state of the United 13
158-Nations, the Republic of Kosovo is a member of both 14
159-the IMF and the World Bank, having joined both or-15
160-ganizations on June 29, 2009. 16
161-(14) On October 26, 2021, Secretary of State 17
162-Antony Blinken issued a statement in support of Tai-18
163-wan’s ‘‘robust, meaningful participation’’ in the 19
164-United Nations system, which includes the IMF, the 20
165-World Bank, and other specialized United Nations 21
166-agencies. Secretary of State Blinken noted, ‘‘As the 22
167-international community faces an unprecedented 23
168-number of complex and global issues, it is critical for 24
169-all stakeholders to help address these problems. This 25
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168+(15) In October 2024, Taiwan announced it 1
169+would seek IMF membership, with the Taipei Eco-2
170+nomic and Cultural Representative Office in the 3
171+United States stating, ‘‘Taiwan’s membership at the 4
172+IMF would help boost financial resilience.’’. 5
173+SEC. 3. SENSE OF THE CONGRESS. 6
174+It is the sense of the Congress that— 7
175+(1) the size, significance, and connectedness of 8
176+the Taiwanese economy highlight the importance of 9
177+greater participation by Taiwan in the International 10
178+Monetary Fund, given the purposes of the Fund ar-11
179+ticulated in its Articles of Agreement; and 12
180+(2) the experience of Taiwan in developing a vi-13
181+brant and advanced economy under democratic gov-14
182+ernance and the rule of law should inform the work 15
183+of the international financial institutions, including 16
184+through increased participation by Taiwan in the in-17
185+stitutions. 18
186+SEC. 4. SUPPORT FOR TAIWAN ADMISSION TO THE IMF. 19
187+(a) I
188+NGENERAL.—The United States Governor of 20
189+the International Monetary Fund (in this section referred 21
190+to as the ‘‘Fund’’) shall use the voice and vote of the 22
191+United States to vigorously support— 23
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172-•HR 910 RH
173-includes the 24 million people who live in Taiwan. 1
174-Taiwan’s meaningful participation in the UN system 2
175-is not a political issue, but a pragmatic one.’’. He 3
176-continued, ‘‘Taiwan’s exclusion undermines the im-4
177-portant work of the UN and its related bodies, all of 5
178-which stand to benefit greatly from its contribu-6
179-tions.’’. 7
180-(15) In October 2024, Taiwan announced it 8
181-would seek IMF membership, with the Taipei Eco-9
182-nomic and Cultural Representative Office in the 10
183-United States stating, ‘‘Taiwan’s membership at the 11
184-IMF would help boost financial resilience.’’. 12
185-SEC. 3. SENSE OF THE CONGRESS. 13
186-It is the sense of the Congress that— 14
187-(1) the size, significance, and connectedness of 15
188-the Taiwanese economy highlight the importance of 16
189-greater participation by Taiwan in the International 17
190-Monetary Fund, given the purposes of the Fund ar-18
191-ticulated in its Articles of Agreement; and 19
192-(2) the experience of Taiwan in developing a vi-20
193-brant and advanced economy under democratic gov-21
194-ernance and the rule of law should inform the work 22
195-of the international financial institutions, including 23
196-through increased participation by Taiwan in the in-24
197-stitutions. 25
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195+(1) the admission of Taiwan as a member of 1
196+the Fund, to the extent that admission is sought by 2
197+Taiwan; 3
198+(2) participation by Taiwan in regular surveil-4
199+lance activities of the Fund with respect to the eco-5
200+nomic and financial policies of Taiwan, consistent 6
201+with Article IV consultation procedures of the Fund; 7
202+(3) employment opportunities for Taiwan na-8
203+tionals, without regard to any consideration that, in 9
204+the determination of the United States Governor, 10
205+does not generally restrict the employment of nation-11
206+als of member countries of the Fund; and 12
207+(4) the ability of Taiwan to receive appropriate 13
208+technical assistance and training by the Fund. 14
209+(b) U
210+NITEDSTATESPOLICY.—It is the policy of the 15
211+United States not to discourage or otherwise deter Taiwan 16
212+from seeking admission as a member of the Fund. 17
213+(c) W
214+AIVER.—The Secretary of the Treasury may 18
215+waive any requirement of subsection (a) for up to 1 year 19
216+at a time on reporting to Congress that providing the 20
217+waiver will substantially promote the objective of securing 21
218+the meaningful participation of Taiwan at each inter-22
219+national financial institution (as defined in section 23
220+1701(c)(2) of the International Financial Institutions 24
221+Act). 25
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201-SEC. 4. SUPPORT FOR TAIWAN ADMISSION TO THE IMF. 1
202-(a) I
203-NGENERAL.—The United States Governor of the 2
204-International Monetary Fund (in this section referred to 3
205-as the ‘‘Fund’’) shall use the voice and vote of the United 4
206-States to vigorously support— 5
207-(1) the admission of Taiwan as a member of the 6
208-Fund, to the extent that admission is sought by Tai-7
209-wan; 8
210-(2) participation by Taiwan in regular surveil-9
211-lance activities of the Fund with respect to the eco-10
212-nomic and financial policies of Taiwan, consistent 11
213-with Article IV consultation procedures of the Fund; 12
214-(3) employment opportunities for Taiwan na-13
215-tionals, without regard to any consideration that, in 14
216-the determination of the United States Governor, does 15
217-not generally restrict the employment of nationals of 16
218-member countries of the Fund; and 17
219-(4) the ability of Taiwan to receive appropriate 18
220-technical assistance and training by the Fund. 19
221-(b) U
222-NITEDSTATESPOLICY.—It is the policy of the 20
223-United States not to discourage or otherwise deter Taiwan 21
224-from seeking admission as a member of the Fund. 22
225-(c) W
226-AIVER.—The Secretary of the Treasury may 23
227-waive any requirement of subsection (a) for up to 1 year 24
228-at a time on reporting to Congress that providing the waiv-25
229-er will substantially promote the objective of securing the 26
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232-•HR 910 RH
233-meaningful participation of Taiwan at each international 1
234-financial institution (as defined in section 1701(c)(2) of the 2
235-International Financial Institutions Act (22 U.S.C. 3
236-262r(c)(2))). 4
237-(d) S
238-UNSET.—This section shall have no force or effect 5
239-on the earlier of— 6
240-(1) the date of approval by the Board of Gov-7
241-ernors of the Fund for the admission of Taiwan as a 8
242-member of the Fund; or 9
243-(2) the date that is 10 years after the date of the 10
244-enactment of this Act. 11
245-SEC. 5. TESTIMONY REQUIREMENT. 12
246-In each of the next 7 years in which the Secretary of 13
247-the Treasury is required by section 1705(b) of the Inter-14
248-national Financial Institutions Act to present testimony, 15
249-the Secretary shall include in the testimony a description 16
250-of the efforts of the United States to support the greatest 17
251-participation practicable by Taiwan at each international 18
252-financial institution (as defined in section 1701(c)(2) of 19
253-such Act (22 U.S.C. 262r(c)(2))). 20
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256-kjohnson on DSK7ZCZBW3PROD with $$_JOB Union Calendar No.
257-10
258-119
259-TH
260-CONGRESS
261-1
262-ST
263-S
264-ESSION
265-
266-H. R. 910
267-[Report No. 119–20]
268-A BILL
269-To require the Secretary of the Treasury to pursue
270-more equitable treatment of Taiwan at the inter-
271-national financial institutions, and for other pur-
272-poses.
273-M
274-ARCH
275-21, 2025
276-Reported with an amendment, committed to the Com-
277-mittee of the Whole House on the State of the Union,
278-and ordered to be printed
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224+•HR 910 IH
225+(d) SUNSET.—This section shall have no force or ef-1
226+fect on the earlier of— 2
227+(1) the date of approval by the Board of Gov-3
228+ernors of the Fund for the admission of Taiwan as 4
229+a member of the Fund; or 5
230+(2) the date that is 10 years after the date of 6
231+the enactment of this Act. 7
232+SEC. 5. TESTIMONY REQUIREMENT. 8
233+In each of the next 7 years in which the Secretary 9
234+of the Treasury is required by section 1705(b) of the 10
235+International Financial Institutions Act to present testi-11
236+mony, the Secretary shall include in the testimony a de-12
237+scription of the efforts of the United States to support 13
238+the greatest participation practicable by Taiwan at each 14
239+international financial institution (as defined in section 15
240+1701(c)(2) of such Act). 16
241+Æ
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