There is 1 version of this bill. View text

Click the check-box to add or remove the section, click the text link to scroll to that section.
Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries

Titles (2)

Short Titles

Short Titles - House of Representatives

Short Titles as Introduced

Currency Reform for Fair Trade Act of 2007

Official Titles

Official Titles - House of Representatives

Official Title as Introduced

To provide for identification of misaligned currency, require action to correct the misalignment, and for other purposes.

Actions Overview (1)

06/28/2007Introduced in House

All Actions (6)

07/12/2007Referred to the Subcommittee on Trade.
Action By: Committee on Ways and Means
06/28/2007Referred to House Foreign Affairs
Action By: House of Representatives
06/28/2007Referred to House Financial Services
Action By: House of Representatives
06/28/2007Referred to House Ways and Means
Action By: House of Representatives
06/28/2007Referred to the Committee on Ways and Means, and in addition to the Committees on Financial Services, and Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Action By: House of Representatives
06/28/2007Introduced in House
Action By: House of Representatives

Cosponsors (77)

* = Original cosponsor
CosponsorDate Cosponsored
Rep. Hunter, Duncan [R-CA-52]* 06/28/2007
Rep. Burton, Dan [R-IN-5] 07/10/2007
Rep. McCarthy, Carolyn [D-NY-4] 07/10/2007
Rep. Murphy, Christopher [D-CT-5] 07/10/2007
Rep. Shuler, Heath [D-NC-11] 07/10/2007
Rep. Altmire, Jason [D-PA-4] 07/10/2007
Rep. Michaud, Michael H. [D-ME-2] 07/10/2007
Rep. Wilson, Charles A. [D-OH-6] 07/10/2007
Rep. McGovern, James P. [D-MA-3] 07/10/2007
Rep. DeLauro, Rosa L. [D-CT-3] 07/10/2007
Rep. Kildee, Dale E. [D-MI-5] 07/10/2007
Rep. Sutton, Betty [D-OH-13] 07/10/2007
Rep. Gerlach, Jim [R-PA-6] 07/12/2007
Rep. Slaughter, Louise McIntosh [D-NY-28] 07/12/2007
Rep. Hayes, Robin [R-NC-8] 07/12/2007
Rep. Sanchez, Loretta [D-CA-47] 07/12/2007
Rep. Edwards, Chet [D-TX-17] 07/23/2007
Rep. Visclosky, Peter J. [D-IN-1] 07/23/2007
Rep. Meek, Kendrick B. [D-FL-17] 07/23/2007
Rep. Jackson, Jesse L., Jr. [D-IL-2] 07/23/2007
Rep. Gingrey, Phil [R-GA-11] 07/23/2007
Rep. Myrick, Sue Wilkins [R-NC-9] 07/25/2007
Rep. Donnelly, Joe [D-IN-2] 07/25/2007
Rep. Gallegly, Elton [R-CA-24] 07/25/2007
Rep. LaTourette, Steven C. [R-OH-14] 07/25/2007
Rep. Space, Zachary T. [D-OH-18] 07/25/2007
Rep. McHugh, John M. [R-NY-23] 07/27/2007
Rep. Jones, Walter B., Jr. [R-NC-3] 07/27/2007
Rep. Inglis, Bob [R-SC-4] 07/27/2007
Rep. Dingell, John D. [D-MI-15] 07/27/2007
Rep. Johnson, Eddie Bernice [D-TX-30] 07/27/2007
Rep. DeFazio, Peter A. [D-OR-4] 07/27/2007
Rep. Bachus, Spencer [R-AL-6] 07/27/2007
Rep. Kilpatrick, Carolyn C. [D-MI-13] 07/27/2007
Rep. Holt, Rush [D-NJ-12] 07/27/2007
Rep. Sensenbrenner, F. James, Jr. [R-WI-5] 07/31/2007
Rep. Schakowsky, Janice D. [D-IL-9] 07/31/2007
Rep. Rohrabacher, Dana [R-CA-46] 07/31/2007
Rep. Gohmert, Louie [R-TX-1] 07/31/2007
Rep. Braley, Bruce L. [D-IA-1] 07/31/2007
Rep. Doyle, Michael F. [D-PA-14] 08/01/2007
Rep. Manzullo, Donald A. [R-IL-16] 08/01/2007
Rep. Mollohan, Alan B. [D-WV-1] 08/01/2007
Rep. Aderholt, Robert B. [R-AL-4] 08/01/2007
Rep. Stupak, Bart [D-MI-1] 08/01/2007
Rep. Saxton, Jim [R-NJ-3] 08/02/2007
Rep. Lynch, Stephen F. [D-MA-9] 08/02/2007
Rep. Rogers, Harold [R-KY-5] 09/04/2007
Rep. Pastor, Ed [D-AZ-4] 09/04/2007
Rep. Higgins, Brian [D-NY-27] 09/04/2007
Rep. Cleaver, Emanuel [D-MO-5] 09/04/2007
Rep. Ehlers, Vernon J. [R-MI-3] 09/04/2007
Rep. Arcuri, Michael A. [D-NY-24] 09/24/2007
Rep. Barrett, J. Gresham [R-SC-3] 09/24/2007
Rep. Pitts, Joseph R. [R-PA-16] 09/27/2007
Rep. Coble, Howard [R-NC-6] 10/03/2007
Rep. Lipinski, Daniel [D-IL-3] 10/03/2007
Rep. Wilson, Joe [R-SC-2] 10/03/2007
Rep. Brown-Waite, Ginny [R-FL-5] 10/03/2007
Rep. Platts, Todd Russell [R-PA-19] 10/03/2007
Rep. Holden, Tim [D-PA-17] 10/09/2007
Rep. Walsh, James T. [R-NY-25] 10/09/2007
Rep. Kagen, Steve [D-WI-8] 10/09/2007
Rep. Solis, Hilda L. [D-CA-32] 10/23/2007
Rep. Murphy, Tim [R-PA-18] 11/01/2007
Rep. Olver, John W. [D-MA-1] 11/01/2007
Rep. Souder, Mark E. [R-IN-3] 12/04/2007
Rep. Castor, Kathy [D-FL-11] 12/04/2007
Rep. Wynn, Albert Russell [D-MD-4] 12/12/2007
Rep. Hare, Phil [D-IL-17] 01/17/2008
Rep. Jefferson, William J. [D-LA-2] 04/09/2008
Rep. Wamp, Zach [R-TN-3] 04/14/2008
Rep. Andrews, Robert E. [D-NJ-1] 05/05/2008
Rep. Ellsworth, Brad [D-IN-8] 05/06/2008
Rep. Rogers, Mike J. [R-MI-8] 05/19/2008
Rep. Graves, Sam [R-MO-6] 06/17/2008
Rep. Kuhl, John R. "Randy", Jr. [R-NY-29] 09/23/2008

Committees (3)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Reports
House Ways and Means06/28/2007 Referred to
House Ways and Means Subcommittee on Trade07/12/2007 Referred to
House Financial Services06/28/2007 Referred to
House Foreign Affairs06/28/2007 Referred to

A related bill may be a companion measure, an identical bill, a procedurally-related measure, or one with text similarities. Bill relationships are identified by the House, the Senate, or CRS, and refer only to same-congress measures.

Latest Summary (1)

There is one summary for H.R.2942. View summaries

Shown Here:
Introduced in House (06/28/2007)

Currency Reform for Fair Trade Act of 2007 - Amends the Tariff Act of 1930 to expand the authority of the administering authority or the International Trade Commission (ITC) to impose countervailing duties on products from a nonmarket economy country that have been provided a countervailable subsidy. Requires, when measuring subsidy benefits, the use of benchmarks outside of a nonmarket economy country when benchmarks in such a country are not available or are inappropriate.

Includes fundamental and actionable misalignment of a currency (undervaluation of a foreign currency) by a foreign country as a countervailable subsidy.

Directs the Secretary of the Treasury (Secretary) to: (1) report annually to Congress on international monetary policy and currency exchange rates (including fundamentally misaligned currencies); (2) analyze semiannually the prevailing real exchange rates between the U.S. dollar and foreign currencies and to designate fundamentally misaligned foreign currencies for priority action; and (3) seek bilateral consultations with fundamentally misaligned currency countries designated for priority action to eliminate such misalignment.

Requires the United States to inform the Managing Director of the International Monetary Fund (IMF) of countries that fail to eliminate fundamentally misaligned currencies designated for priority action and to request the IMF Managing Director to consult with such countries regarding their observance of the IMF Articles of Agreement and to report the results of such consultations to the IMF Executive Board. Prohibits the Overseas Private Investment Corporation (OPIC) from, and instructs multilateral banks to oppose, financing projects in countries that issue fundamentally misaligned currencies designated for priority action.

Requires: (1) the Secretary to take certain actions with respect to countries that fail to eliminate fundamentally misaligned currencies designated for priority action; and (2) the United States Trade Representative (USTR) to request consultations in the World Trade Organization (WTO) with such countries regarding the consistency of their actions with regard the WTO Agreement.

Establishes an Advisory Committee on International Exchange Rate Policy.

Repeals the Exchange Rates and International Economic Policy Coordination Act of 1988.