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Call to Recover Chinese Debt for American Families

This resolution urges the U.S. President to act to recover debt from the Chinese government owed to approximately 20,000 American families. This debt relates to bonds issued by China that were subsequently defaulted on, even though similar bonds were repaid to UK citizens. If successful, this could mean financial recovery for thousands of American families.
Key points
U.S. Congress urges the President to address China's defaulted debt to American citizens.
The debt involves bonds issued by China that were not repaid to 20,000 American families.
It highlights that China repaid the same bonds to UK citizens but refused to pay Americans.
It suggests China's debt could be used to offset the U.S. national debt to China.
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Expired
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Additional Information
Print number: 117_HCONRES_17
Sponsor: Rep. Green, Mark E. [R-TN-7]
Process start date: 2021-02-18
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Expressing the sense of Congress that the President should do everything in his power to achieve resolution and repayment of the defaulted sovereign debt of the People's Republic of China held by 20,000 families in the United States represented by American Bondholders Foundation, LLC.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HCONRES_17.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-02-18.

What are the main provisions?

Key points include:

  • U.S. Congress urges the President to address China's defaulted debt to American citizens.
  • The debt involves bonds issued by China that were not repaid to 20,000 American families.
  • It highlights that China repaid the same bonds to UK citizens but refused to pay Americans.
  • It suggests China's debt could be used to offset the U.S. national debt to China.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Green, Mark E. [R-TN-7].

What is the latest detailed status?

The latest detailed status is: Introduced in House

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-27.

CATEGORIES

Economy Courts and Law