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MI SCR0025
Concurrent Resolution
AI Summary
- Urges Congress to defend the U.S. dollar's role as the world's dominant reserve currency against proposals to replace it with a mix of currencies
- Notes that the dollar has served as the international reserve currency since World War II due to America's position as the largest economy with stable, long-term productivity and prosperity
- States that maintaining the dollar's reserve currency status benefits America by allowing the use of its own currency for imports and debt payment, which would not be possible without foreign confidence in the dollar
- Calls for steps to strengthen the dollar against foreign currencies and bolster the underlying economic basis for the dollar's global dominance to maintain foreign confidence
- Directs that copies be sent to the President of the U.S. Senate, Speaker of the House, and Michigan's congressional delegation
Legislative Description
A concurrent resolution urging Congress to defend the role of the dollar as a world reserve currency.
Currency
Last Action
Referred To Committee On Banking And Financial Institutions
10/14/2009
Committee Referrals
Banking & Financial Institutions10/14/2009
Full Bill Text
No bill text available