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MI HR0290
Resolution
Status
5/25/2010
Primary Sponsor
Brian Calley
Click for details
AI Summary
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Memorializes Congress to enact the European Bailout Protection Act (H.R. 5299) to prohibit U.S. loans to the International Monetary Fund from financing bailouts of European Union member states.
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Requires the Secretary of the Treasury to oppose any IMF loans to European Union nations until all countries comply with established debt and spending policies.
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Cites Europe's debt crisis as resulting from fiscal irresponsibility and unsustainable government spending, warning that multiple nations may require future emergency financial support.
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Directs transmission of the resolution to the President of the U.S. Senate, Speaker of the U.S. House of Representatives, and members of the Michigan congressional delegation.
Legislative Description
A resolution to memorialize Congress to enact the European Bailout Protection Act to prohibit U.S. tax dollars from being used by the International Monetary Fund for bailouts of European countries.
International Monetary Fund
Last Action
Referred To Committee On Banking And Financial Services
5/25/2010