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This resolution recognizes that (1) deficits are unsustainable, irresponsible, and dangerous; (2) the implementation of Modern Monetary Theory will lead to higher deficits and higher inflation; and (3) it is the duty of the Senate to condemn the theory.

This resolution recognizes that (1) deficits are unsustainable, irresponsible, and dangerous; (2) the implementation of Modern Monetary Theory will lead to higher deficits and higher inflation; and (3) it is the duty of the House of Representatives to condemn the theory.

Independence from Credit Policy Act of 2020 This bill limits the types of securities that the Federal Reserve Board may acquire in the open market to gold stock; currency; and direct obligations of the United States, foreign banks, or the International Monetary Fund. The board must exchange all other assets with the Department of the Treasury for direct U.S. obligations of equivalent value.

Removing Monetary Barriers to Voting Act This bill establishes that an individual's right to vote in an election may not be denied or abridged due to debts owed for a criminal conviction.

State Justice Improvement Act This bill reauthorizes through FY2026 the State Justice Institute, a nonprofit corporation established by federal law, and authorizes the institute to award grants for the development and implementation of best policies and practices for the constitutional and equitable enforcement of fines, fees, and monetary bail. Specifically, the institute may award these grants to state and local courts, nonprofit organizations, institutions of higher education, and other specified entities. The policies and practices must incorporate guidance that courts should, among other things, prohibit the use of monetary bail schedules and consider alternatives to incarceration for defendants who are unable to pay fines and monetary bail.

State Justice Improvement Act This bill reauthorizes through FY2026 the State Justice Institute, a nonprofit corporation established by federal law, and authorizes the institute to award grants for the development and implementation of best policies and practices for the constitutional and equitable enforcement of fines, fees, and monetary bail. Specifically, the institute may award these grants to state and local courts, nonprofit organizations, institutions of higher education, and other specified entities. The policies and practices must incorporate guidance that courts should, among other things, prohibit the use of monetary bail schedules and consider alternatives to incarceration for defendants who are unable to pay fines and monetary bail.

Ensuring Chinese Debt Transparency Act of 2020 This bill states that it is U.S. policy to push for greater transparency with respect to financing provided by China to another country through international financial institutions such as the International Monetary Fund. The National Advisory Council on International Monetary and Financial Policies within the Department of the Treasury shall report annually on progress made toward advancing this policy.

Fight Illicit Finance through Technical Assistance Act of 2019 This bill directs the Department of the Treasury to support increasing the use of the International Monetary Fund (IMF) administrative budget for technical assistance to help IMF members fight money laundering and funding for terrorism. The National Advisory Council on International Monetary and Financial Policies shall report on such efforts.

Monetary Metals Tax Neutrality Act of 2019 This bill exempts gains or losses from the sale or exchange of certain coins or bullion from recognition for income tax purposes. The exemption applies to gains or losses from the sale or exchange of (1) gold, silver, platinum, or palladium coins minted and issued by the Department of the Treasury; or (2) refined gold or silver bullion, coins, bars, rounds, or ingots which are valued primarily based on their metal content and not their form.

Promoting Secure 5G Act of 2020 This bill requires the Department of the Treasury to instruct the U.S. Executive Director at each international financial institution (e.g., the International Monetary Fund or the International Finance Corporation) that it is U.S. policy to * support institutional assistance with advanced wireless technologies only if they provide appropriate security for users, * encourage assistance with infrastructure or policy reforms that facilitate the use of secure advanced wireless technologies, and * cooperate with institutional member states to strengthen international support for such technologies.

Streamlining The Official Response and Monetary Aid for Disasters Act or the STORM Aid for Disasters Act This bill requires any federal agency that sustained specified damage as a result of a presidentially-declared major disaster to submit to Congress and the Office of Management and Budget a report that describes the damage incurred, an estimate of the cost of such damage, and any effects to operations if the agency does not receive additional resources. Specified damageis defined as * damage to federal facilities and property; * negative impacts on federal operations, including damage to equipment, loss of program support, and any other calculable costs, as well as costs necessary to resume operations; and * loss of services, totaling a cost exceeding $500,000, that would have been provided by the agency but for the disaster. The bill provides for expedited consideration of a bill making supplemental appropriations to agencies in response to such report.

Give Useful Information to Define Effective Compliance Act or the GUIDE Compliance Act This bill sets forth procedures for the issuance of guidance from the Consumer Financial Protection Bureau. Guidance includes written interpretive rules, bulletins, statements of policy, and other generally applicable authoritative documents that are not regulatory actions. The bureau must publish * the types of guidance it will provide, * the criteria used for selecting the type of guidance, * the process for requests for guidance, * the process for amending or revoking guidance, and * guidelines for determining civil monetary penalties for a violation of consumer financial law.

Unfunded Mandates Accountability Act This bill revises rulemaking requirements with respect to unfunded mandates. Specifically, the bill (1) requires federal agencies to prepare and publish in the Federal Register an initial and final regulatory impact analysis prior to promulgating any proposed or final rule that may have an annual effect on the economy of $100 million or more (adjusted for inflation); (2) requires consideration of regulatory alternatives to the rule and requires the selection of the least costly, most cost-effective, or least burdensome alternative; (3) exempts from such requirements rules that concern monetary policy proposed or implemented by the Board of Governors of the Federal Reserve System or the Federal Open Market Committee; and (4) expands judicial review of agency rulemaking. The bill extends certain budgetary requirements to independent regulatory agencies.

Taiwan Non-Discrimination Act of 2020 This bill requires actions to improve Taiwan's standing in international financial institutions such as the International Monetary Fund (IMF). The U.S. Governor of the IMF shall oppose any increase in China's IMF quota unless certain conditions are met. (A country's quota generally reflects its economic strength and affects factors such as that country's voting power within the IMF.) Specifically, the governor shall oppose such a quota increase unless the Department of the Treasury reports to Congress that (1) the IMF is considering admitting Taiwan as a member, (2) Taiwan enjoys meaningful participation in the IMF, or (3) not opposing a quota increase will substantially support the objective of securing Taiwan's more equitable treatment in international financial institutions. (Taiwan is not a member of the IMF due to China's opposition, based on its position that Taiwan is part of China and not a separate country.) Treasury shall instruct U.S. representatives at international financial institutions to oppose travel policies that impose conditions on Taiwan as a destination or transit point, if such conditions do not generally apply to a member of the institution as a destination or transit point. Treasury may waive this instruction if such a waiver (1) substantially supports the goal of improving Taiwan's position within that institution, or (2) is in U.S. national interest.

Presidential Allowance Modernization Act of 2019 This bill replaces provisions governing the compensation provided to a former President. Each former President shall receive from the United States (1) an annuity of $200,000 per year for the remainder of his or her life, and (2) a monetary allowance of $200,000 per year. Such allowance shall be reduced by the amount the former President's earned income exceeds $400,000. These monetary amounts are subject to a cost-of-living increase. The widow or widower of each former President shall be entitled to receive from the United States a monetary allowance at a rate of $100,000 per year, payable monthly by the Department of the Treasury, if such widow or widower waives the right to each other annuity or pension to which she or he is entitled under any other Act of Congress. This is prospective to future Presidents who have not yet held office.

Financial Compensation for CFPB Whistleblowers Act This bill requires the Consumer Financial Protection Bureau to provide rewards to whistleblowers who report information relating to a violation of consumer financial law resulting in certain monetary sanctions exceeding $1 million. Specifically, the bureau must award compensation to whistleblowers for 10%-30% of the collected monetary sanctions. In cases where the bureau is unable to collect at least $1 million of the imposed sanctions, the bureau must award any single whistleblower 10% of the amount collected or $50,000, whichever is greater. The bill also sets forth requirements regarding the legal representation of a whistleblower and provides for confidentiality regarding the whistleblower's identity.

Financial Compensation for CFPB Whistleblowers Act This bill requires the Consumer Financial Protection Bureau to provide rewards to whistleblowers who report information relating to a violation of consumer financial law resulting in certain monetary sanctions greater than or equal to $500,000. Specifically, the bureau must award compensation to whistleblowers for 10%-30% of the collected monetary sanctions. In cases where the bureau is unable to collect at least $1 million of the imposed sanctions, the bureau must award any single whistleblower 10% of the amount collected or $50,000, whichever is greater. The bill also sets forth requirements regarding the legal representation of a whistleblower and provides for confidentiality regarding the whistleblower's identity.