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A resolution supporting the United States dollar as the reserve currency of the world and combating the economic influence of the People's Republic of China.

USA119th CongressSRES-713| Senate 
| Updated: 4/30/2026
Ted Budd

Ted Budd

Republican Senator

North Carolina

Cosponsors (1)
Jeanne Shaheen (Democratic)

Foreign Relations Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
This Senate resolution affirms the critical role of the United States dollar as the world's reserve currency and seeks to counter the growing economic influence of the People's Republic of China. It highlights the dollar's foundation in a stable legal system, democratic institutions, and robust capital markets, while noting its decline in global currency reserves since 1999. The resolution details various concerns regarding China's economic practices. These include the PRC's undervalued renminbi , its use of "shadow reserves," and its intervention in foreign exchange markets. It also points to China's opaque and unsustainable debt practices through the Belt and Road Initiative , which has made it the largest official creditor globally and undermines international financial institutions. Furthermore, the resolution addresses China's aggressive steps to internationalize its currency, including the development of the digital yuan and its promotion within the BRICS group as a potential competitor to the dollar. It notes the increasing use of the yuan in global trade and the establishment of the Cross-Border Interbank Payment System (CIPS) as an alternative to SWIFT. The resolution concludes by stating that the United States must take steps to protect the dollar's status, monitor and counter China's undermining efforts, strengthen economic ties globally, and collaborate with allies to ensure economic growth and stability in developing countries.
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Bill from Previous Congress

SRES 118-460
A resolution supporting the United States dollar as the reserve currency of the world and combating the economic influence of the People's Republic of China.
Apr 30, 2026
Submitted in Senate
Apr 30, 2026
Referred to the Committee on Foreign Relations.
Apr 30, 2026
Referred to the Committee on Foreign Relations. (text: CR S2176-2177)
  • Bill from Previous Congress

    SRES 118-460
    A resolution supporting the United States dollar as the reserve currency of the world and combating the economic influence of the People's Republic of China.


  • April 30, 2026
    Submitted in Senate


  • April 30, 2026
    Referred to the Committee on Foreign Relations.


  • April 30, 2026
    Referred to the Committee on Foreign Relations. (text: CR S2176-2177)

A resolution supporting the United States dollar as the reserve currency of the world and combating the economic influence of the People's Republic of China.

USA119th CongressSRES-713| Senate 
| Updated: 4/30/2026
This Senate resolution affirms the critical role of the United States dollar as the world's reserve currency and seeks to counter the growing economic influence of the People's Republic of China. It highlights the dollar's foundation in a stable legal system, democratic institutions, and robust capital markets, while noting its decline in global currency reserves since 1999. The resolution details various concerns regarding China's economic practices. These include the PRC's undervalued renminbi , its use of "shadow reserves," and its intervention in foreign exchange markets. It also points to China's opaque and unsustainable debt practices through the Belt and Road Initiative , which has made it the largest official creditor globally and undermines international financial institutions. Furthermore, the resolution addresses China's aggressive steps to internationalize its currency, including the development of the digital yuan and its promotion within the BRICS group as a potential competitor to the dollar. It notes the increasing use of the yuan in global trade and the establishment of the Cross-Border Interbank Payment System (CIPS) as an alternative to SWIFT. The resolution concludes by stating that the United States must take steps to protect the dollar's status, monitor and counter China's undermining efforts, strengthen economic ties globally, and collaborate with allies to ensure economic growth and stability in developing countries.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline

Bill from Previous Congress

SRES 118-460
A resolution supporting the United States dollar as the reserve currency of the world and combating the economic influence of the People's Republic of China.
Apr 30, 2026
Submitted in Senate
Apr 30, 2026
Referred to the Committee on Foreign Relations.
Apr 30, 2026
Referred to the Committee on Foreign Relations. (text: CR S2176-2177)
  • Bill from Previous Congress

    SRES 118-460
    A resolution supporting the United States dollar as the reserve currency of the world and combating the economic influence of the People's Republic of China.


  • April 30, 2026
    Submitted in Senate


  • April 30, 2026
    Referred to the Committee on Foreign Relations.


  • April 30, 2026
    Referred to the Committee on Foreign Relations. (text: CR S2176-2177)
Ted Budd

Ted Budd

Republican Senator

North Carolina

Cosponsors (1)
Jeanne Shaheen (Democratic)

Foreign Relations Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted