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H.R. 1615

U.S. House•In House Committee

Summary

H.R. 1615, the Strengthening Exports Against China Act, was introduced in the House on Feb 26, 2025 by Rep. Young Kim (R) with 2 co-sponsors. It was referred to Financial Services, and last saw action on Feb 26, 2025: Referred to the House Committee on Financial Services.

Record

Text

H.R. 1615 has 2 co-sponsors.

hb1615/introduced-in-house.txt
119 HR 1615 IH: Strengthening Exports Against China Act
 U.S. House of Representatives
 2025-02-26
 text/xml
 EN
 Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
 I  119th CONGRESS  1st Session  H. R. 1615  IN THE HOUSE OF REPRESENTATIVES   February 26, 2025   Mrs. Kim  (for herself and  Mrs. Beatty ) introduced the following bill; which was referred to the  Committee on Financial Services    A BILL
To amend the Export-Import Bank Act of 1945 to exclude certain financing from the calculation of the default rate for purposes of determining when the lending cap under such Act applies, and for other purposes.
1.
Short title
This Act may be cited as the   Strengthening Exports Against China Act  .
2.
Exclusion of certain financing
Section 6(a)(3) of the Export-Import Bank Act of 1945 ( 12 U.S.C. 635e(a)(3) ) is amended—
(1)
by striking  If  and inserting the following:
(A)
In general
If
 ; and
(2)
by adding at the end the following:
(B)
Exclusion of certain financing
For purposes of this paragraph, the rate calculated under section 8(g)(1) shall not include an entity in default if the Bank determines that the financing provided to the entity—
(i)
facilitates the replacement of or competition with a product or service provided by—
(I)
an entity on the Entity List maintained by the Bureau of Industry and Security of the Department of Commerce and set forth in Supplement No. 4 to part 744 of title 15, Code of Federal Regulations; or
(II)
a person—
(aa)
on the list of specially designated nationals and blocked persons maintained by the Office of Foreign Assets Control of the Department of the Treasury; or
(bb)
with respect to which one or more persons described in item (aa), individually or in the aggregate, directly or indirectly, hold at least 50 percent of the outstanding voting interest; or
(ii)
was provided pursuant to the Program on China and Transformational Exports established under section 2(l).
 .

Tracker

The tracker indicates the progress of this legislation as it moves through the legislative process.

  1. Introduced2025-02-26
  2. Passed House
  3. Passed Senate
  4. Conference
  5. To President
  6. Became Law

CRS Summary

The summaries are the Congressional Research Service’s, one per stage. Read them in full.

Introduced in House Feb 26, 2025

hb1615/introduced-in-house.md

Shown Here:
Introduced in House (02/26/2025)

Strengthening Exports Against China Act

This bill allows the Export-Import Bank of the United States (EXIM) to exclude financing provided to certain U.S. exporters from its default rate cap calculations.

EXIM, the official export credit agency of the United States, provides financing for U.S. exports of goods and services. EXIM monitors credit and other transaction risks, reserves against losses, and submits quarterly reports to Congress on its default rate. If its default rate reaches 2%, EXIM faces an immediate lending cap freeze.

This bill exempts certain transactions from EXIM's default rate calculation, thereby allowing EXIM to provide financing to these U.S. exporters without the risk of reaching the default rate cap.

Specifically, the bill allows EXIM to exclude from the default rate cap any financing provided to U.S. exporters under the China and Transformational Exports Program. (This program allows EXIM to extend loans, guarantees, and insurance to advance the comparative leadership of the United States with respect to China in specified export areas, such as artificial intelligence, biotechnology, and wireless communications equipment.)

Additionally, the bill allows EXIM to exclude from the default rate cap any financing provided to U.S. exporters that are competing with products or services provided by (1) a foreign entity included on the Entity List maintained by the Department of Commerce's Bureau of Industry and Security (e.g., entities involved in activities contrary to U.S. national security or foreign policy interests), or (2) a foreign individual or entity sanctioned by the Department of the Treasury's Office of Foreign Assets Control.

Sponsors

Rep. Young Kim (R) sponsors H.R. 1615, and 2 members have co-sponsored it, 1 of them from the day it was introduced.

Committees

H.R. 1615 went before 1 committee: Financial Services.

Financial Services
Financial Services
Referred To · Feb 26, 2025 · 559 Bills

Actions

H.R. 1615 has taken 2 actions since Feb 26, 2025.

ChamberAction
Feb 26, 2025
House
Introduced in House
Feb 26, 2025
House
Referred to the House Committee on Financial Services.Financial Services Committee

Votes

H.R. 1615 has not gone to a roll call.

1 bill is related to H.R. 1615, as Identical bill.

Titles

H.R. 1615 goes by 3 titles, 1 of them short titles.

  • Strengthening Exports Against China Act — Display Title
  • Strengthening Exports Against China Act — Short Title(s) as Introduced
  • To amend the Export-Import Bank Act of 1945 to exclude certain financing from the calculation of the default rate for purposes of determining when the lending cap under such Act applies, and for other purposes. — Official Title as Introduced

Classification

The Congressional Research Service files H.R. 1615 under Foreign Trade and International Finance, one of its 31 policy areas, and gives it 5 legislative subjects.

CRS Subjects

CRS assigns every bill one policy area from its 31; H.R. 1615’s is Foreign Trade and International Finance.

hr1615/policy-areas.txt
Foreign Trade and International FinanceAgriculture and FoodAnimalsArmed Forces and National SecurityArts, Culture, ReligionCivil Rights and Liberties, Minority IssuesCommerceCongressCrime and Law EnforcementEconomics and Public FinanceEducationEmergency ManagementEnergyEnvironmental ProtectionFamiliesFinance and Financial SectorGovernment Operations and PoliticsHealthHousing and Community DevelopmentImmigrationInternational AffairsLabor and EmploymentLawNative AmericansPublic Lands and Natural ResourcesScience, Technology, CommunicationsSocial WelfareSports and RecreationTaxationTransportation and Public WorksWater Resources Development

Legislative Subjects

H.R. 1615 carries 5 of CRS’s legislative subjects, from Asia to Interest, dividends, interest rates.

hr1615/subjects.txt
AsiaChinaCompetitiveness, trade promotion, trade deficitsGovernment lending and loan guaranteesInterest, dividends, interest rates

Constitutional authority

The clause the sponsor cites as Congress’s power to enact H.R. 1615, as entered in the Congressional Record.

[Congressional Record Volume 171, Number 38 (Wednesday, February 26, 2025)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mrs. KIM:H.R. 1615.Congress has the power to enact this legislation pursuantto the following:Article 1, Section 8[Page H879]

Source: congress.gov · legiscan.com