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H. Rept. 118-293 1 (2023-12-01)

handle is hein.congrecreports/crptxafud0001 and id is 1 raw text is: AUTHENTICATED U.GOVERNMENT INFORMATION . 118TH CONGRESS REPORT 1st Session HOUSE OF REPRESENTATIVES 118-293 TAIWAN NON-DISCRIMINATION ACT OF 2023 DECEMBER 1, 2023.-Committed to the Committee of the Whole House on the State of the Union and ordered to be printed Mr. MCHENRY, from the Committee on Financial Services, submitted the following R E P O R T [To accompany H.R. 540] [Including cost estimate of the Congressional Budget Office] The Committee on Financial Services, to whom was referred the bill (H.R. 540) to require the Secretary of the Treasury to pursue more equitable treatment of Taiwan at the international financial institutions, and for other purposes, having considered the same, reports favorably thereon with an amendment and recommends that the bill as amended do pass. The amendment is as follows: Strike all after the enacting clause and insert the following: SECTION 1. SHORT TITLE. This Act may be cited as the Taiwan Non-Discrimination Act of 2023. SEC. 2. FINDINGS. Congress finds as follows: (1) As enshrined in its Articles of Agreement, the International Monetary Fund (IMF) is devoted to promoting international monetary cooperation, facili- tating the expansion and balanced growth of international trade, encouraging exchange stability, and avoiding competitive exchange depreciation. (2) Taiwan is the 21st largest economy in the world and the 10th largest goods trading partner of the United States. (3) Although Taiwan is not an IMF member, it is a member of the World Trade Organization, the Asian Development Bank, and the Asia-Pacific Eco- nomic Cooperation forum. (4) According to the January 2020 Report on Macroeconomic and Foreign Ex- change Policies of Major Trading Partners of the United States, published by the Department of the Treasury, Taiwan held $471,900,000,000 in foreign ex- change reserves, more than major economies such as India, South Korea, and Brazil. (5) According to section 4(d) of the Taiwan Relations Act (Public Law 96-8), enacted on April 10, 1979, Nothing in this Act may be construed as a basis for supporting the exclusion or expulsion of Taiwan from continued membership 49-006