The U.S. House Financial Services Committee on March 5 voted 48-0 to pass a bipartisan bill led by U.S. Rep. Young Kim (R-CA) that aims to ensure Taiwan’s participation in the International Monetary Fund (IMF).
“I thank the House Financial Services Committee for passing this bipartisan bill, and I’ll keep fighting to get this across the finish line,” the congresswoman said on Wednesday following the committee’s vote.
The Taiwan Non-Discrimination Act of 2025, H.R. 910, which Rep. Kim sponsored on Feb. 4 with original cosponsor U.S. Rep. Al Green (D-TX), states that the size, significance, and connectedness of the Taiwanese economy highlight the importance of greater participation by Taiwan in the IMF, and that the country’s experience in developing “a vibrant and advanced economy under democratic governance and the rule of law” should inform the work of the international financial institutions, including through increased participation by Taiwan in the institutions, according to the bill’s text.
“As the 21st-largest economy in the world and the 10th-largest goods trading partner of the United States, Taiwan plays a critical role in the global economy but remains excluded from the IMF due to pressure from the Chinese Communist Party [CCP],” said Rep Kim. “We cannot allow the CCP to dictate international financial policy and sideline a key democratic partner.”
If enacted, H.R. 910 would ensure the U.S. governor of the IMF advocates for Taiwan’s admission into the IMF as a member; Taiwan’s participation in the IMF’s regular surveillance activities relating to Taiwan’s economic and financial policies; employment opportunities at the IMF for Taiwan nationals; and Taiwan’s ability to receive IMF technical assistance and training.
“I thank Rep. Kim for taking the lead on this legislation as we eagerly anticipate its successful passage this Congress,” said Rep. Green. “Taiwan deserves to rejoin the IMF, not only because of its status as a vibrant democracy, but also for its dynamic economy that contributes significantly to global growth.”
The measure now heads to the full chamber for consideration.