Featured

Cruz and Scott Move to Prevent U.S. Support for IMF Funding of Hamas, China, and Others

Washington, D.C.- Senators Rick Scott (R-Fl) and Ted Cruz (R-TX) have filed a bill to prevent the US from authorizing any International Monetary Fund (IMF) aid disbursement to countries hostile to America.

The bill follows Hamas’ terror attacks in Israel earlier in October and the subsequent destabilization of the Middle-Eastern region due to increased hostility by Iranian proxy terror groups. 

Scott ad Cruz’s bill, the IMF Accountability Act, would prevent US IMF reps from authorizing the IMF from allocating Special Drawing Rights (SDR) or providing increased lending to American adversaries. 

The list of countries addressed includes Iran, Communist China, Russia, the Taliban Government of Afghanistan, North Korea, Cuba, Venezuela, and Nicaragua.

SDRs are assets created by the IMF that can be converted to cash and transferred to an IMF member country upon approval of 85% of the IMF’s board of governors. 

The US has 16% of the IMF Board of Governors’ total representation, which means that the IMF Accountability Act would effectively prohibit SDR transfers to the specified countries. 

“Financing countries that commit human rights abuses, fund terrorism, and threaten our fellow democracies goes against everything we stand for as a nation,” said Scott via press release

Scott continued on X, stating that as “Hamas terrorists hold hostages & attack Israel, we must send a clear message to its Iranian backer: the free ride is over, you're cut off.”

 

Senator Cruz alleged how nefarious state actors will harness the IMF’s SDRs to finance their criminal operations. 

“Hostile actors and rogue regimes use IMF Special Drawing Rights to bolster their economies and reserves,” said Cruz. “ It is long past time for the United States to counter these tactics.”

Staff Reports

Recent Posts

Texas Lawmakers Hear Local Testimony After Devastating July 4 Floods

In the wake of one of the deadliest natural disasters in Texas history, state lawmakers…

2 days ago

LONESTAR — 8.1.2025 — Texas Senate Passes Bill Banning THC — Texas Mobilizes Emergency Response for Texas Panhandle — and More...

This week, the Texas Senate approved Senate Bill 5 (SB 5), a controversial bill that…

2 days ago

Texas Senate Passes SB 5 Banning THC

This week, the Texas Senate approved Senate Bill 5 (SB 5), a controversial bill that…

2 days ago

Texas Mobilizes Emergency Response Ahead of Panhandle Flood Threat

Governor Greg Abbott (R) has ordered the activation of emergency response resources as heavy rainfall…

2 days ago

LONESTAR — 7.31.2025 — Abbott Announces Disaster Unemployment Assistance — New Texas Map Adds Five GOP Seats — and More...

This week, Governor Greg Abbott (R) announced that the Texas Workforce Commission (TWC) is now…

2 days ago

Texas Leads U.S. in Veterans Using VA Education Benefits

Texas students are preparing to head back to school, and tens of thousands of veterans…

3 days ago