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HR 5627 109th Congress House

Steel Financing Fairness Act

Official title: To prohibit the Overseas Private Investment Corporation from providing insurance or financing to countries that subsidize their steel industries and for projec… Show full official titleShow less

Official title: To prohibit the Overseas Private Investment Corporation from providing insurance or financing to countries that subsidize their steel industries and for projects producing goods subject to antidumping duties, to require the United States to oppose the provision by the International Monetary Fund of assistance to countries which subsidize their steel industries, and to ban assistance by the Export-Import Bank of the United States to countries that subsidize their steel industries.

Introduced: June 15, 2006 See on congress.gov
Foreign Trade and International Finance American investmentsCommerceCongressCongressional reporting requirements
More subjectsShow fewer subjects
Countervailing dutiesDeveloping countriesDevelopment credit institutionsDumpingEconomic assistanceExport financeForeign loansInternational AffairsInternational monetary systemInvestment guaranty insuranceIron and steel industryReinsuranceSteelSubsidies
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This bill died when the 109th Congress ended
It never became law before the 109th Congress (2005–2006) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 18, 2006
Referred to the Subcommittee on Domestic and International Monetary Policy, Trade, and Technology.
Jun 15, 2006
Sponsor introductory remarks on measure. (CR E1162-1163)
Jun 15, 2006
Referred to the Committee on Financial Services, and in addition to the Committee on International Relations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Jun 15, 2006
Introduced in House
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 Latest action July 18, 2006

Referred to the Subcommittee on Domestic and International Monetary Policy, Trade, and Technology.

 Plain-English summary Congressional Research Service

Steel Financing Fairness Act - Prohibits the Overseas Private Investment Corporation (OPIC) from providing insurance or financing for a project: (1) in any country that grants a subsidy to its steel industry until three months after such subsidy is eliminated; or (2) that produces, outside of the United States, any product subject to antidumping duties.

Amends the Bretton Woods Agreements Act to require the Secretary of the Treasury to: (1) instruct the U.S. Executive Director at the International Monetary Fund (IMF) to oppose any assistance from the IMF to any foreign government that subsidizes its steel industry until three months after such subsidy is eliminated; and (2) reduce the U.S. contribution to the IMF if it provides assistance to any such government during such period.

Amends the Export-Import Bank Act of 1945 to prohibit the Export-Import Bank from guaranteeing, insuring, or extending credit for exports to any foreign government that subsidizes its steel industry until three months after such subsidy is eliminated.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 3
 Cosponsors 1
All 1 Independent 1
I
Sanders, Bernard
Vermont · Jun 15, 2006
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 5627: Steel Financing Fairness Act. 109th Congress. Open America. https://openamerica.io/bill/109-HR-5627/
MLA
"H.R. 5627: Steel Financing Fairness Act." 109th Congress, 2026, Open America, https://openamerica.io/bill/109-HR-5627/.
Bluebook (legal)
H.R. 5627, 109th Cong. (2026), https://openamerica.io/bill/109-HR-5627/.
Markdown link
[H.R. 5627: Steel Financing Fairness Act](https://openamerica.io/bill/109-HR-5627/)
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