H.R. 9713, Geopolitical Withdrawal Mechanism. Quorum's AI analysis reads it as a net cost — and names who bears it.
H.R. 9713 · Net cost
What it does
This bill would force the U.S. to withdraw immediately from the International Monetary Fund, World Bank, and Asian Development Bank if those institutions provide any debt relief to China or if their relief to other countries indirectly aids China's lending. The bill also requires the U.S. to oppose any IMF relief for China and demands monthly reports on all transactions by these institutions involving China.
The analysis names China (gains uncontested influence in IMF, World Bank, Asian Development Bank governance) — and 2 more groups — among the beneficiaries.
The cost
Withdrawal from the IMF, World Bank, and ADB would eliminate U.S. voting power and board representation, ceding influence over global financial governance to other nations (particularly China, Russia, and EU members) without reducing those institutions' operations or China's access to them.
The analysis put a high warning level on this bill. Transparency scores 65%, and the analysis found no provisions unrelated to the bill's subject.
Who is behind it
Filed by Scott Perry.