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21st Century Dollar Act

12/15/2023, 3:53 PM

Congressional Summary of HR 556

21st Century Dollar Act

This bill requires the Department of the Treasury to establish a strategy to facilitate the position of the dollar as the primary global reserve currency.

Treasury must submit a report that includes (1) steps taken to implement this strategy, legislative recommendations, and efforts by major foreign central banks to create an official digital currency; and (2) an evaluation of the role of the renminbi (the official currency of China) in international payments and foreign exchange reserves.

Read the Full Bill

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Current Status of Bill HR 556

Bill HR 556 is currently in the status of Bill Introduced since January 26, 2023. Bill HR 556 was introduced during Congress 118 and was introduced to the House on January 26, 2023.  Bill HR 556's most recent activity was Referred to the House Committee on Financial Services. as of January 26, 2023

Bipartisan Support of Bill HR 556

Total Number of Sponsors
1
Democrat Sponsors
0
Republican Sponsors
1
Unaffiliated Sponsors
0
Total Number of Cosponsors
0
Democrat Cosponsors
0
Republican Cosponsors
0
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill HR 556

Primary Policy Focus

Foreign Trade and International Finance

Potential Impact Areas

- Asia
- China
- Congressional oversight
- Currency
- Digital media
- Foreign and international banking
- International monetary system and foreign exchange

Alternate Title(s) of Bill HR 556

21st Century Dollar Act
21st Century Dollar Act
To support the role of the United States dollar as the primary global reserve currency, and for other purposes.

Comments

Sponsors and Cosponsors of HR 556

J. French Hill
J. French Hill
ArkansasRepublican

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