US would oppose international loans for projects that use forced labor.
This bill, called the "No Funds for Forced Labor Act," would require the US Treasury Secretary to tell American representatives at global banks to vote against loans for projects that might use forced labor. This includes projects by government-linked groups in China's Xinjiang region. The goal is to stop international money from supporting forced labor practices.
Today, the US Treasury Secretary is not required to tell US representatives at global financial institutions to specifically oppose projects using forced labor. If this bill becomes law, the Secretary would have to instruct these representatives to oppose such projects, especially those in China's Xinjiang region, and demand detailed explanations from institutions about their forced labor checks. The Secretary would also submit an initial public report to Congress one year after the bill becomes law, followed by five more annual reports.
S 1685 · 119th Congress · AI Summary by gemini-2.5-flash · 8/10
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