International Monetary Stability Act of 2001

H.R. 2617, the International Monetary Stability Act of 2001, would have established a formal process for the U.S. Treasury to certify foreign countries that choose to replace their own national currency with the U.S. dollar. Under this bill, the United States would share a portion of the "seigniorage" earnings—the profit the U.S. government makes from issuing currency—with these "dollarized" nations through quarterly payments. For American citizens, the bill aimed to promote global economic stability and increase the international use of the dollar, though it would have required the U.S. Treasury to redirect a portion of its currency-related revenue to foreign governments.