United States 117th Congress Status: In Committee 1 D cosponsors

HR 6549 — To provide support for international initiatives to provide debt relief to developing countries with unsustainable levels of debt, and for other purposes.

Last action — Referred to the House Committee on Financial Services.

  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed House
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 117th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there are no live odds of enactment. It would have to be reintroduced in the current session to move again.

Summary

This bill requires the Department of the Treasury to support and advocate for debt relief for developing countries. Treasury must engage with international financial institutions and creditors to advocate for support, implementation, and improvement of the Common Framework for Debt Treatments beyond the Debt Service Suspension Initiative (DSSI) (and any successor framework or similar coordinated international debt treatment process). (The DSSI is an initiative established by the Group of 20, the informal grouping of 19 major economies and the European Union, that provides temporary debt restructuring for the world's poorest countries. The common framework is a framework endorsed by 39 creditors to provide permanent debt forgiveness.) Treasury must also engage with international financial institutions and creditors to advocate for a comprehensive debt payment standstill for each participating debtor while the debtor's application for relief under the common framework and negotiations related to such relief are pending or ongoing. Treasury must also order U.S. representatives to the International Monetary Fund and the World Bank to advocate and vote for such initiatives and policies without undermining the respective institution's ability to provide new and additional aid and assistance.

Bill Text

Action History

  1. Introduced in House

  2. Introduced in House

  3. Referred to the House Committee on Financial Services.

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 546 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (546)

546 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

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Subjects

finance
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Frequently asked questions

What does HR 6549 do?
This bill requires the Department of the Treasury to support and advocate for debt relief for developing countries. Treasury must engage with international financial institutions and creditors to advocate for support, implementation, and improvement of the Common Framework for Debt Treatments beyond the Debt Service Suspension Initiative (DSSI) (and any successor framework or similar coordinated international debt treatment process). (The DSSI is an initiative established by the Group of 20, the informal grouping of 19 major economies and the European Union, that provides temporary debt restructuring for the world's poorest countries. The common framework is a framework endorsed by 39 creditors to provide permanent debt forgiveness.) Treasury must also engage with international financial institutions and creditors to advocate for a comprehensive debt payment standstill for each participating debtor while the debtor's application for relief under the common framework and negotiations related to such relief are pending or ongoing. Treasury must also order U.S. representatives to the International Monetary Fund and the World Bank to advocate and vote for such initiatives and policies without undermining the respective institution's ability to provide new and additional aid and assistance.
Who sponsors HR 6549?
HR 6549 is sponsored by Ocasio-Cortez, Alexandria (Democratic).
What is the current status of HR 6549?
This bill died with 117th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track HR 6549?
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