A bill to ameliorate the adverse economic effects resulting from the overvaluation of the United States dollar.
Fair Rate of Exchange Act - Imposes a currency equalization contribution (in addition to any customs duty or fee) on any article imported into the United States. Sets the amount of such contribution as a specified currency equalization percentage of the customs valuation of the imported article.
Establishes within the Treasury an Exchange Rate Equalization Fund. Provides that all such currency equalization contributions shall be deposited in such Fund.
Allows a manufacturer, producer, or grower of a product of the United States, upon the exportation of that product from the United States, to apply to the Secretary of Commerce for a currency equalization payment for the product. Provides that such payments shall be made from the Fund.
Specifies the dollar appreciation percentage or the ratio of the U.S. merchandise trade balance to the gross national product that would trigger the termination of this Act.
Committee on Finance. Committee consideration and Mark Up Session held.
Introduced in House
Introduced in House
Referred to House Committee on Foreign Affairs.
Referred to House Committee on Ways and Means.
Referred to Subcommittee on Trade.
Referred to Subcommittee on International Economic Policy and Trade.
For Further Action See H.R.4800.
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