Bill would make U.S. leave world banks over China debt relief.

What it does

The bill says the U.S. must leave three world banks right away. Those banks are the International Monetary Fund, World Bank, and Asian Development Bank. The U.S. leaves if those banks give debt relief to China. The U.S. also leaves if those banks help other countries that China lent money to. The bill requires monthly reports on all deals these banks make with China. The U.S. must vote against any help these banks give to China.

Who it affects

American workers and families would lose U.S. power in world banks. Those banks help countries during money crises. Poor countries that need loans might get less help. Banks would fear the U.S. would leave. The U.S. could not borrow from the International Monetary Fund if America faced a money crisis.

One thing to notice

The bill's rule for leaving is very broad. Most poor countries have borrowed from China, so the U.S. would likely exit almost right away.

From the analysis of the bill text, linked under Primary records below.

Where it stands

• Jul 15, 2026 — Introduced · Congress.gov: “Introduced in House”
• Jul 15, 2026 — Referred to House Committee on Financial Services · Congress.gov: “Referred to the House Committee on Financial Services”

Dates and quoted wording are Congress.gov's action record; the timeline shows status changes, not every procedural step.

Words to know

• International Monetary Fund — A world bank that lends money to countries in money trouble.
• World Bank — A world bank that lends money to poor countries for roads, schools, and hospitals.
• Asian Development Bank — A world bank that lends money to countries in Asia.
• debt relief — When a bank forgives or reduces money a country owes.