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H.R. 5627: Steel Financing Fairness Act

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H.R. 5627: Steel Financing Fairness Act

109th Congress · introduced 2006-06-15 · Foreign Trade and International Finance · Latest: Referred to the Subcommittee on Domestic and International Monetary Policy, Trade, and Technology.

federal

Follow this bill, step by step

  1. Where it came from: introduced 2006-06-15 · official record
  2. Who proposed it: Rep. Paul, Ron [R-TX-14] · what a sponsor is
  3. What happened next: no floor votes in our records yet. Why?
  4. Where it stands now: Referred to the Subcommittee on Domestic and International Monetary Policy, Trade, and Technology. Not final yet: this can still change. We check for updates every day.
  5. If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Steel Financing Fairness Act

Plain summary

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.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Steel Financing Fairness Act

Source: Congressional Research Service summary (Introduced in House)

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The strongest published arguments

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Paul, Ron [R-TX-14] · 1 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Bernard Sanders (I-VT)

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Sources

Record fed-us-cong109-hr5627 · catalog fed-us-congress-bills-cong109 · updated 2026-11-15 by psicol fed-bills-cong109